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
Ron M. Landsman has been practicing elder law since 1983, before it was known as elder law, originally with Landsman and Laster, Washington, D.C., then Landsman, Eakes and Laster, also in Arlington, VA, and since 1990 in his own practice in Montgomery County, Maryland. He has been among the most active members of the...
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...