A single-premium fixed annuity purchased with inherited funds may qualify for a bankruptcy exemption under state law, the Georgia Supreme Court has ruled.
A Chapter 13 debtor could not exclude a Railroad Retirement Act annuity when calculating his “projected disposable income,” the 9th Circuit has ruled in reversing judgment.
A non-assignable annuity contract that provided income to the spouse of a nursing home patient did not count as an excess resource that needed to be spent down for the patient’s Medicaid eligibility, the 2nd Circuit has ruled in affirming judgment.
A married couple’s purchase of an annuity for the husband did not necessarily render the wife ineligible for Medicaid, the 10th Circuit has ruled in reversing judgment.
Medicaid applicants weren’t necessarily disqualified from receiving benefits on the basis that their annuities were valued at less than what they cost, the Massachusetts Appeals Court has ruled in reversing judgment.
An annuity that a debtor purchased from his bankruptcy lawyer does not qualify as exempt property in his Chapter 7 case, the 9th Circuit has ruled in affirming judgment.
A state may consider the value of a husband’s annuity in determining his institutionalized wife’s eligibility for Medicaid, the New Jersey Appellate Division has ruled in affirming judgment.