| Gifts and Medicaid….read on:
READER QUESTION:
My question is, if I gift my children money, will that, in any way, be subjected
to a 5-year lookback?
MY RESPONSE:
All gifts made within five years of applying for nursing home Medicaid are caught in the 5-year lookback. There are a few narrow exceptions and defenses that we can discuss on a case-by-case basis. For example, sometimes the recipient of the gift or the reason for the gift matters. Nevertheless, the vast majority of gifts will result in a penalty if made within the lookback period.
I hope this helps! |
