Asset Protection for Medicaid purposes is the practice of protecting your assets by transferring them to another person or to a trust in line with the Medicaid regulations and still qualify for Medicaid benefits. Certain transfers of assets may be considered "compensated" or "uncompensated", "permissible" or "impermissible" and "exempt" or "non-exempt" for Medicaid purposes.
It is advisable to work with a lawyer experienced in the Medicaid area who can assist you in rearranging your assets to make you eligible for Medicaid as soon as possible.