Transfer of Assets FAQs

Frequently Asked Questions and Answers Regarding Transfer of Assets

UpdatedSpecial Needs Trust

What a special needs trust is, the criteria that must be met to be a special needs trust, what can be done with the money, what happens when the beneficiary dies, what are a worker’s responsibilities in regard to a special needs trust

Long Term Care Partnership Insurance

Oklahoma Long Term Care Partnership (LTCP) Program is a policy purchased after 2008 and will have statement on the face page of the qualification from Oklahoma Insurance Department. The policy must be exhausted before client can become eligible for SoonerCare. Having this policy allows the amount of face value of the policy to be protected […]

Look-Back Period for All Assets for LTC

The requirement for the 60 month look back is part of the Deficit Reduction Act of 2005. The 60 month look back is defined in Section 1917(c) of the Social Security Act. The look back on all assets is 60 months before the first day the individual is both “institutionalized” and has applied for medical […]