Ohio Trust Law News

Wednesday, July 13, 2011

dollar_signOlder adults caught a break when a controversial amendment to Ohio’s trust law was removed at the last moment from the State budget bill.  The amendment would have deprived widows or widowers over 65 of the chance to set aside a little money to help take care of themselves if they needed Medicaid.  If one is in a nursing home or an assisted living facility, qualifying for Medicaid  means having less than $1,500* in assets, and only $40 - $50/month “spending money.”  Hardly enough to pay for TV or phone service, get one’s hair done, and buy a box of candy.  We look for the proposal to be introduced again, but at least it will not be buried in a 5,000-page piece of legislation.

*Figures current as of the date of the blog.


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