“My financial advisor told me what I needed to transfer to qualify for Medicaid in the future – should I rely on this?”


“My financial advisor told me what I needed to transfer to qualify for Medicaid in the future – should I rely on this?”

"My financial advisor told me what I needed to transfer to qualify for Medicaid in the future – should I rely on this?"This is a question that we’ve gotten a number of times.

When I hear the question, I cringe a little bit because how does that financial advisor knows what the rules are under Alabama Medicaid?  Is the financial advisor trained to give legal advice and is he prepared to deal with the consequences of giving bad legal advice — especially when he doesn’t have a license to practice law?

This is not a particularly easy area of the law to understand for a lawyer, so how does somebody who took a two-hour class on it think that he or she knows what Medicaid requires?

So we see this, and it may be with the best of intentions, but bad advice is given and that may cost the family hundreds of thousands of dollars. That advisor did not mean that. They weren’t trying to hurt.

They were trying to help, but just understand that if you want legal advice go to a lawyer.

If you want financial advice go to a financial person.

If you want tax advice, either go to a tax lawyer or a CPA.

Get the advice from the right people who can give you solid advice.

Contact Us.

If you have any questions, you’re more than welcome to get in touch with us.

You can reach us by phone at 1-205-879-2447.

Or, if you prefer, you can fill out a contact form and we will get in touch with you.

We look forward to chatting with you!

Thanks for reading, and have a great day!

-John G. Watts

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