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Forum Newbie
Group: Forum Members
Last Login: 11/17/2008 1:12:49 PM
Posts: 1,
Visits: 0
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| My parents went into assisted living in January 08. My Dad fell and spent the last 6 weeks in skilled nursing and has another approx. 2 weeks before he returns to assisted with my mom. They have approx $350,000 left in retirement fund but last month month bills for both places were about $13,000. If they gift $150,000 to the kids this year when will the money really be safe? December 2013? Does the size of the gift matter? Does the look back period begin when you apply for medicaid? Thanks for any help.
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Forum Newbie
Group: Forum Members
Last Login: 11/19/2008 11:19:06 AM
Posts: 1,
Visits: 0
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I'm new to this and am not sure I'm "posting" my question correctly. What I am trying to find out is this:
My father passed away 18 months ago. My mother has 70K in the bank. That's all she has save an old automobile. She's going to need to move into assisted living within a year. She'll likely apply for Medicaid within a couple years. We're in Colorado.
I understand the Medicaid look back is 5 years. She wants to gift her children and grand children some money for Christmas. Is there an amount that she can give without upsetting Medicaid? Can she give a little to everyone without it causing a problem when she applies?
Thanks for any help!!!
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