Elder Law Answers
Can I Transfer My Parent's Assets to Myself Using My Power of Attorney?
As the agent under a power of attorney for an elderly parent with progressive dementia, is it allowable to move any or all...
Read moreCan I Transfer My Grandmother’s Car to My Name Without Causing a Medicaid Penalty Period?
- March 22nd, 2021
Q
An elder law attorney suggested the purchase of a vehicle as a way to protect some of my grandma’s assets. While this would be excluded during the Medicaid spend-down, what can we do to prevent the car from being taken by estate recovery after she passes? I was told to do a title transfer from her name to mine after she is qualified for Medicaid. Is it really that simple?
A
This is something of a grey area. You must report most asset transfers to the Medicaid agency, and the transfer will usually cause a period of ineligibility for benefits. You could make an argument that the transfer of a noncountable asset does not need to be reported or, if reported, does not give rise to a penalty. This argument would not work in every state, but it could be that it is a common practice in your state. You will have to follow the advice of your local elder law attorney who will know how the rules are applied where you live. To find an attorney near you, click here.