The Listen to Lawrence Letter: Gift Tax and Medicaid

READER QUESTION:

Is it true that I can give away up to $19,000 per person per year and exempt this amount from the Medicaid look-back?

MY RESPONSE:

Only in your dreams, my friend. The $19,000 per person per year is a gift tax exemption concept that has nothing to do with Medicaid. All such gifts are subject to the Medicaid look-back and penalty rules.

But one can dream! 😊

And, if anyone you know would like to receive this

Listen to Lawrence Letter, just have them email me at

info@davidowlaw.com and I’ll add them to the list!

As always, please send me your questions. If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.

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Stay safe!