Congress has agreed to allow the President to raise the debt ceiling in exchange for $2.4 trillion in budget cuts over 10 yea...Read more
How Will a Gift to Charity Affect My Medicaid Application?
- June 22nd, 2015
Gifts to charity can affect your Medicaid application. Medicaid looks at all transfers made in the five years before you apply. If you transferred assets for less than fair market value, Medicaid can impose a penalty period—a time when you are ineligible for Medicaid benefits. There is no exception for charitable giving, but if you can show a pattern of charitable giving, you may be able to prove that the transfer to the charity was made for a reason other than to qualify for Medicaid. But states differ in the way they treat transfers. Before transferring any money, we strongly suggest you consult with an elder law attorney in your state to find out how your state Medicaid agency usually treats charitable giving. Here is a directory of attorneys: http://www.elderlawanswers.com/elder-law-attorneys.
For more information on Medicaid’s asset transfer rules, click here.
Local Elder Law Attorneys in Ashburn, VA
Hale Ball Carlson Baumgartner Murphy PLC
Jean Galloway Ball is certified in Elder Law by the National Elder Law Foundation. She is a 1977 honors graduate of the National Law Center, George Washington University, and she did her undergraduate work at the University of California at Berkeley, graduating Phi Beta Kappa in 1971. She is admitted to practice in Vir...
Margaret A. O'Reilly, PC
Margaret A. O’Reilly is an estate planning and elder law attorney with over thirty-five years of legal experience. Attorney O’Reilly graduated from Duke University with a degree in psychology, and received her law degree from Northeastern University School of Law in Boston, Massachusetts. For over 15 y...