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Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL -cpabakem01@yahoo.com **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: http://www.blognetnews.com/accounting (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Wednesday, January 16, 2008

Michigan Estate Recovery Act

Law signed 9-30-07 with immediate effect, BUT requires "Approval by the Federal Government" before implementation.

ICLE

5 Comments:

Anonymous Real Estate Supplies said...

Great post Milt, not everyone knows about this By far, the largest component of the coming year’s $11 billion Michigan Department of Community Health budget is Medicaid, a state and federal medical assistance program for the poor. The state’s share of this budget is just over $4 billion, and the federal government picks up most of the balance.

Federal law requires all states to recoup some of these costs by implementing what is known as "estate recovery" programs. This primarily affects elderly people whose nursing home bills are paid by Medicaid.

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