Florida Medicaid Web Site: Personal Service Contract
 
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Personal Service Contract

A personal service contract (or personal care contract) is a planning tool to transfer assets legitimately in exchange for lifelong care and companionship and provides immediate Medicaid eligibility.

Under this contract, you would enter into an agreement with an individual or professional caretaker to provide lifetime care in exchange for compensation. Because compensation is involved, there are no transfer penalties involved. The caretaker may be a family member or friend. The contract must follow specific Medicaid regulations and guidelines in order to be effective.

 

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Senior Management Group, LLC, copyright 2005.  All rights reserved.

Disclaimer: The information provided on FloridaMedicaid.com is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered. Your access to and use of this website is subject to additional Terms and Conditions. 2005 Senior Management Group, LLC. All rights reserved.  Senior Management Group, LLC does not offer legal referrals (as defined in State Bar of Florida Pertaining to Lawyer Referral Services).