What is the name of your state? MI
My In-laws want to set up an Annuity. My Father in-law is in a Nursing Home. My Mother in-law lives at their home. We have been told that in MI the State has to be listed as beneficiary of the annuity, to the extent it will pay for medical services via "Medicaid".
My question is, as beneficiary, will the State only receive what has been paid out in "Medicaid" or would they receive all funds remaining in the Annuity.
My In-laws want to set up an Annuity. My Father in-law is in a Nursing Home. My Mother in-law lives at their home. We have been told that in MI the State has to be listed as beneficiary of the annuity, to the extent it will pay for medical services via "Medicaid".
My question is, as beneficiary, will the State only receive what has been paid out in "Medicaid" or would they receive all funds remaining in the Annuity.