Our office receives many calls from concerned loved ones and family members wondering if or when they should start Medicaid planning. The answer: It is never too early or too late to discuss the planning options available. Below are just two examples of the many types of calls we get where we advise clients that Medicaid planning is an option right now. Mrs. Brown is an 81-year-old widow experiencing short-term memory loss. She is still able to live alone in her own home. Her monthly […]
Tag Archives: five year look back
Financial Gifts to Children and their Effect on Medicaid Qualifications
There are so many misconceptions surrounding Medicaid with respect to financial gifts that we thought we would address some of the more frequently asked questions: Q: “Is it true that under current Medicaid laws, a parent cannot make financial gifts to their children or others once they have entered the nursing home?” A: No. In fact, a proper gifting program is a great Medicaid planning technique. At the time an applicant applies for Medicaid, the state will “look back” 5 years to see if any […]