Will Transferring His Income to Me Affect My Dad's Medicaid Eligibility?
My father made a revocable trust seven years ago. However, he did not transfer or give his money to me until seven months...
Read moreGifts 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.
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My father made a revocable trust seven years ago. However, he did not transfer or give his money to me until seven months...
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My wife may need to go into a nursing home and apply for Medicaid in a little more than five years. She has $930 a month i...
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My elderly parents would like to sell their home and use some of that money to build a small house on our property to live...
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