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Should Our Parents Keep Giving Us Gifts if They Might Enter a Nursing Home?

  • August 27th, 2013
Q
Although my siblings and I are not in favor, my parents have health issues that might require one or both to go into a nursing home down the road. My parents have been giving us money for birthdays and Christmas (as much as $1,000 per child) and we are concerned that if they have to go to a nursing home in less than five years from now we might have to pay back this money. Are our concerns justified?
A

Yes, those concerns are justified. Your parents should make no future gifts without first consulting with a local elder law attorney. That said, the past gifts may or may not be a problem and it may be possible to make some future transfers. That depends on your parents' health and financial status and many other factors. A qualified elder law attorney would be able to advise your parents and their family how best to proceed.

Local Elder Law Attorneys in Ashburn, VA

Mindy Felinton

Felinton Elder Law & Estate Planning Centers
Rockville, MD

Margaret O'Reilly

Margaret A. O'Reilly, PC
Herndon, VA

William Fralin

The Estate Planning & Elder Law Firm PC
Bethesda, MD


Last Modified: 08/27/2013

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