Assign Life Ins to meet Medicaid requirements

[cagey1]

I've been told we can assign my mother's (80 yrs old with dementia) Life Insurance Policy to the Funeral Home so it will not count as an asset so she can qualify for Medicaid. It is only 5K, but I'm still not comfortable with signing it directly to them. Is there any way to word the assignment that will better protect our interest (in case the funeral home folds, etc.) and that will also satisfy Medicaid? I would very much appreciate any help.

 

[ErinGoBragh]

Speak with an attorney regarding specific wording- we cannot give it here. I am also not sure about Medicaid. That *really* depends on many, many different factors and particulars.

However, I do not see why you have such an issue assigning the policy. You do know that the funeral home will have to show the insurance company bills for all expenses, right? And you are, in fact, planning on using this money for your mother's burial, when the time comes?