Chayet & Danzo, LLC

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COVID-19 NOTICE:

After careful review of the COVID-19 environment, the law firm of Chayet & Danzo, LLC, will be conducting in-person appointments in our offices on a limited basis and with strict social distancing protocols.

During this time, our team will continue to diligently work remotely on all client matters and will maintain communication through email, telephone, and video conferencing. Our main office number, (303) 355-8500 will continue to be answered during our normal business hours of 8:00 a.m. to 5 p.m. Monday – Thursday and 8:00 a.m. to 4:00 p.m. on Fridays.

This decision to have limited appointments in-office while following strict social distancing protocols is in the best interest and health of our team, clients and community.

We will continue accepting new clients during this period as well as fully servicing our existing clients.

We wish you and your family continued health during these unique and challenging times.

Compassion, talent and dedication:
guiding colorado families and Their Trusted Advisors During Times of Need

What is an exempt asset according to Medicaid regulations

  • Exempt assets are not considered when attempting to qualify for Medicaid
  • Exempt assets are:
    • The home of any value, including the land on which it sits and adjoining property;
    • Household goods and personal effects with a value up to $2,000;
    • One wedding and engagement ring, and any items required by physical condition, i.e., prosthesis or wheelchair, or any value;
    • One vehicle of any value if equipped for a handicapped person, or used to obtain medical treatment or used for employment (must be verified by a letter from a physician or employer); exemption limited to $4,500 in all other circumstances;
    • Value of any burial space;
    • Value of any burial plan if it is irrevocable; if it is not irrevocable, a burial plan of $1,500;
    • Life insurance with a cash surrender value of $1,500
  • Shifting (converting) countable assets to exempt assets is permissible. Examples include: making improvements to the home, purchasing an exempt vehicle, purchasing an irrevocable burial plan, etc.

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