OCR Text |
Show September 21, 2001 The Summit County Bee MU Parent Loan for Undergraduate Studcjita at www.parent amwer.com or www.wiredacholar.com. Spector at www.spectorpro.com. Quantum2 at www.quantum2.net Cycle of Hope at www.cycleolhope.org. Shriner Hospitals at www.shrinershq.org. Novartis at www.nfcacarrs.org. The Epilepsy Foundation's Women and Epilepsy Initiative at www.epilepsyfoundation.org. IVacFone Wireless service at www.tracfone.com. The DentAid dental emergency kit at www.bookch.com. Collegiate Funding Services (CFS) at www.cfsloans.comNAPS. Campbell's Soup recipes at www.eampbelltoup.eom. Medicaid and Life Insurance: Can Your Past Financial Planning Jeopardize Your Eligibility? BY RANDALL J. IIOLGREN AND MATTHEW L.MITTON The American Pet Products Manufacturers Association at www.appma.org. 6. Business property; and 7. Life insurance policies up to a specified amount. Unfortunately, many of these excluded resources are limited in value to a relatively small amount. This holds true for life insurance policies, an asset which many individuals own. Although each state may have differing resource limits, in general, to be an excluded asset, life insurance must not exceed $1,500 in death benefits. If the death benefit exceeds this amount, the policy's cash value is seen as an available asset, and may serve to disqualify the Medicaid participant. Fur example, assume Samuel, a Medicaid applicant, owns a life insurance policy with a death benefit of $2,000 and a cash value of $700. The policy's death benefit exceeds the life insurance excluded resource limit by $500. Therefore, the cash surrender value of life insurance policy valued'at $700 is seen as an available resource to Samuel. Depending upon Samuel's Most people are aware that, in order to qualify for Medicaid benefits an applicant must meet strict income and resource restrictions. Luckily, when determining which resources are able, many assets are exempt from counting towards the Medicaid resource limit. Some examples include: state-impos- Business Lines of Credit Under $50,000. Stated Income, Full documentation Now Available at L (j(!j) t 1. Principal place of residency, lot, and sale proceeds if another residence is purchased within 3 months of the sale; 2. Household goods and personal effects up to a specified amount; 3. Engagement and wedding rings; 4. Automobile used for necessary transportation, such as for transportation to employment or medical treatments, 3. Automobile not used for the above purposes, up to a specified value; Washington Mutual 4 V- fi ts For more information call Adam Clark, Jeremy Lewis or Stop in at 6250 N. Sagewood Drive Kimball Junction Phone Fax 435-655-49- 435-655-49- Toll Free 29 20 126 800-696- -1 PageB7 Food Storage and shortening. The class on Tuesday. Oct. 9, has information from experts on how to safely store and use the most common fuels. Plus enjoy a demonstraideas: soup tion of cooked in a hay Nix and cookies baked in an apple Nix reflector oven. 10 p.m. in All classes run from room 306 of the Histone Utah tucl-savin- g 7-- Margaret. So w hat can be done if you're in the above situation? Be informed. Meet with a qualified estate planning attorney who specializes in Medicaid planning before applying for government assistance. This w ill allow you to get a clear picture of your chances tor receiving assistance. Failing to do so could jeopardize your chances at qualifying Mr valuable aid when you need it most. Mr. Holmgren and Mr. Mittoh an members of the American Academy of Estate Planning Attorneys and have been engaged in the practice of Ian for the last 23 years. For mon inlormuiiim or to attend an ttpcom-in- g seminar, call 801 ) 36 51 South County Courthouse. I Vova (Off in Avenue University street parking is accessible from 100 South.) Fee fur one class is $2 or two classes for $4 or all three for $5. To lescive your spot on if you have questions) call Judy at Don't waste the foods you've stored. I .earn how to make them taste good so you'll route them often. 2. TT uIhs(Cir3!D$ ITJha limn to have the life insurance when excluded, aggregated, Maigarel's policies sui puss the limit by $250. Therefore, Medicaid will determine the cash value of each policy and the heal amount will be consid-eic- d as an available resource to For The Overwhelmed food storage recipes that" taste great plus food storage recipes hi use on your busiest days. The program on Tuesday, Sept. 25, shows how test and delicious cooking with food storage can be. Learn quick ways of preparing dried beans plus tips on using dehydrated foods such as milk, eggs? butter? Imagine using the foods you have on hand to make meals that taste great and even save time. To help you make that happen, three programs on using your food storage are being sponsored by the Utah County office of USU Extension. The presenter will be Leslie Probe rt, who has spent years researching other available resources; this may push him hevond the Medicaid allowable limits, thereby preventing Samuel from receiving government assistance. This particular ly become- - a problem for certain older Medicaid applicants. It is not unusual for older individuals to own several small insurance policies purchased 20 or more years ago, only to have later forgotten about the policies. Although the policies may be small in death benefit value, once accumulated, the policies are oftentimes laigc enough to disqualify a Medicaid applicant. How is this possible? Assume Margaret, a Medicaid applicant, purchased three different life insurance policies 20 years ago. The policies are all relatively small in death benefit value: Policy A has a death benefit of $500; Policy B has a death benefit of $500; and Policy (' has a death benefit of $750. Although individually each policy fils well within the $1,500 resource Smwm U (Cmmity SOME THINGS ABE MEANT TO BE CLOSED YOUR MIND ISNT ONE OF THEM. Bat has shown how valuable people with disabilities are to society. But they can't get past a closed HDA mind. Coalville Estate Sale! Keep yours open. www.ndausa.org Muscular Dystrophy UxlllC Association Fun, fun, fun! Antique furniture, country collectiables, crystal, linens, tools, great yard art! 96 Chevy truck and trailer. tee-pe- e, (RHajeram Services Hair Design Tires We Make Tire Buying Easy! Shear Images Lei m keif yen hmhymtr eery Sea tbit mum wtb bdintyle drupuel te fit jtmr tub ml year bfiuylt. (435)654-013- BFGoodrich Toyo Michelin Roadmaster 675 W. 100 So., Hebar Pirelli Get A New Look Tbit Seaton! 184 N. Main 152 East 100 North Coalville, Utah Sat. & Sun. Sept. 22 & 23 only! 9 am - 4 pm No earlybirds please! HrbtrGiv 5 BuildingContracting Presented by All in the Family 657-977- 1 r iUEZS Fitness & Weight Loss Midway toHeaven. itCurves foe women BROTHERS CONSTRUCTION "When quality is the Issue" m Custom Hornet SptOalaing Oimr 1 MM ton SanlnnMutrh Ajmm flaunt. Rmunmi t 435-783-55- 8700 M 00 Port Lana. Pana Utah 84081 Doors 30 Minute Fitness & Weight Loss Center Cnuuilrlf Workout, BtuiuBody Fat S35 Full Body Manage for Men It Won 654-372- 3 73$ Wot 100 South Hcbcr Gtv i li iw Indues pool Low down payment FHA lours aviiildlik' Incredible 2. 3 hikI 4 iNflnaaiiv Private hkixI yard wilh pain Arm ul iHiHhtiipwl As roristmctkai QiiiiH, double-wiil- l Advertise Here! huniiiiri Convenient JouiiVri HH'hitiTlnre the blank and we'll fill what you need. Maybe it's an air conditioner. Or a heat pump. Maybe even with Puron, our Fill in in 544 W. Airport Rd., Bldg Hsbsr City, Ut 18 Fax A The Company You Keep David M. Flint, Agent 3303 N. University Ave. Sniie 100 Provo, UT 14604 (435)671-110- 1 Fax (801) 377-543- 1 Vf'.-w.jS- PQf- - ' a $.4 ; - ' - environmentally sound refrigerant. In any case, we'll make you comfortable. 3 Whatever it takes. . till HAST MAIN-- . wvnyugvrt ii t t t a r MIDWAY t iimm.ii.h FriSCFTOWS S.,, Hunm-coot- m maatrunui Smalt - mi. iw "nwf A. 435.640.2000 435.654.5599 t u1 a mp n ss uti . mn a uv tr naxt ww.hamlcttow n h O m n jrc'-- v nr8 |