My mom wants to give me money to purchase a house – between $14,000 and $24,000. It is my understanding that i...Read more
It depends on how much was transferred. You may simply be able to pay for the nursing home from the transferred funds until the five years expires. Or you may be able to transfer back some of the money to shorten the penalty period. I strongly recommend that you consult with a local elder law attorney to determine the best strategy in your situation.
For more on Medicaid's asset transfer rules, click here.
Local Elder Law Attorneys in Ashburn, VA
Loretta Morris Williams is a certified elder law attorney by the National Elder Law Foundation. Ms. Williams was admitted to the Council of Advanced Practitioners, National Academy of Elder Law Attorneys (NAELA) in 2012. She serves as President of the Virginia Academy of Elder Law Attorneys. Ms. Willia...
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...