If your mother gives you money, it is a gift that results in a penalty period (i.e., period disqualification from Medicaid). One possible way to get money to you and minimize the penalty period is to give you a certain percentage of her lump sum and use the balance to purchase a type of immediate annuity known as a "Medicaid annuity." In order to calculate the numbers and do this right, you will need to contact an elder law attorney to assist you in this. I devote an entire chapter of my book, together with examples, on how this technique works. Good luck with everything!
In the state of PA : My mother is planning on selling her home. In the meantime my husband and I are going to build a new home and she will be living with us. If she writes out checks totaling $25,000.00 to the home builder will these be subject to the 5 year lookback ? Would it make a difference if my name was on the checking account with her name on her checking account?
To AnnPA14: If your mother receives a legal interest in the home you are building--at least equal to the amount of money she is transferring--at the time she transfer the money, then it is not a gift, since she is receiving equal value in return. I advise you to contact an elder law attorney to ensure this is all done correctly.
Hospice care is covered by Medicare (vs. Medicaid), which does require a means test (i.e., it does not matter how much in assets or income the person has). So the five-year lookback does not come into play.
My mother owns a house that her name only is on the deed. She is nearing the point where she may need to go into a nursing home. Should we sell the house before this happens?
If you sell the house, you will have converted an exempt asset into a countable asset. Then she would be disqualified from Medicaid. If she gives away the house, you run into the 5-year lookback rule and penalty period discussed above.
Can you please tell me what may be involved in going from community Medicaid to institutional Medicaid? my relative has been on community M. for over 20 years with a large spend down. Will another look back period be required? If so, what will they be looking for?
my mom deeded her house and land to me several years ago. i, of course, have let her live there at no cost other that repairs and upkeep. Was it a mistake for us to think she could legally use her funds for repairs on a house that was no longer in her name. now the house needs painting and some repairs. will these types of expenses count against her in the 5 year look back if she has to go into managed care. it didn't occur to me at the time
My father suddenly took ill and we had to put him in nursing home, he has a life insurance policy for his burial, it is set up as a death benefit but still has a cash value, whoever the nursing home will be taking all his pay and I will have to pay this premium, can I become the owner of policy or is it to late?
If monies were taken from a parent in Dec 2012 , when could we apply for Medicaid to avoid the 5 year look back. Is it 5 years from that date of transfer or 5 years from in this case Jan 1 2012?
my mother lives in a house that belongs to my husband and me. we don't charge her any rent however we get her to be financially responsible for any repairs. if we have to put her in a managed care facility, will those expenses be disallowed on a 5 year look back? we just never thought about getting her to pay monthly rent
I now understand the "5 year look back", but what about if your parent gave you the house, but has a life use on the property. I am also her care giver. I live with her and take care of her, but the deed to the house is now in mine name with the life use clause for my Mother. I was told in this case, it is a "2 year look back". Could you please provide any knowlwdge of this. Thank You.
Grandma had a life estate put in place in 1984. Dad held the deed. Dad died in 2002, Grandma died in 2005. I was made trustee after Dad died. Medicaid was used for Grandma from 1999 to 2005. Am I responsible for Medicaid recovery?
Is there a look back period if your parent is on Medicaid and was only sent to a nursing home for rehab because there were no beds open in the hospital's transitional care unit? Mom put her $24,000 home in my name back in 2010 (4 years ago), only to save on probate and inheritances taxes, never expecting to have to recooperate in a nursing home for 3 months. I still argue that if there would have been a bed in our hospital's transitional care unit, then hospitalization would have paid, but because of where she was sent, she was penalized. After her discharge, she went back to her home of 70 years (yes, the one in my name) where she still lives by herself today. From our experience with a nursing home, people may walk in there, but not many will ever walk out of there. Mom was put there for rehab, but all they did was put her in a wheel chair and pushed her everywhere. Had my siblings and I not insisted that she get more intensive PT, I don't think she would have walked out. So yes, they kept her there for 3 months, she got penalized over $8,000 for property gifting, and now I'm still furious about it. I think that 5 year look back period should be looked at one case at a time. I get so frustrated when I see the way Medicaid, Welfare, food stamps are handed out to non-citizens and generational welfare recipients, but when an 89-year-old resident who actually needs it gets penalized, it's not fair.
Does anyone know if you "gift" to your parent $13,000 a year, will there be any penalties? Everything here seems to pertain to parents gifting to their children and our situation is the opposite.
If i am on medicare and medicaid .Medicaid pays the 20% that medicare doesn't pay and I have a house .I may be going to sell this house while still on medicare and Medicaid will I have to pay back any money from profits that i make on my house that medicaid has helped me with.?
mom has been in assisted living status for 7 years, how far does the look back go for gifting in Ct. ? How much can she gift her children a year or total for legal purposes, can she buy them a vacation if she wishes and what if her and child have joint account and child is power of attorney . thanks
My parents transferred their house into a revocable trust on January 18, 2012. My mother is now ill and might have to go to a nursing home. Will the 5 year look back apply to this trust? What happens to the house on January 19, 2017? Thanks for any answers.
I'm curious about liens on these properties. My sister-in-law owns a mobile home, but she owes more or close to what it is worth. She also rents the lot it is located on. Value of less than $5000. She already has Medicaid, so when she goes to NH, as POA, can I legally sell the property to pay off her debts??
My 94 yr mother is currently living in assisted living and is very unhappy. For her age, she still is fairly independent. My husband and I are considering using some of her money to build her a little apartment on our property where we can take care of her and hire someone to check on her. My question is if years down the road she requires a nursing home, will Medicaid expect her to pay for the money that was spent for her apartment.
I dont know about the apartmrnt, but my dad lives with our family amd weve made some changes to accomodate his needs. Before visiting this site i never though about his spending being considered any type of gift. I mean, if he cant climb steps he has to have a shower on the main floor, so he paid to divide a closet into a smaller closet and a shower for him. Actually could be seen as either lowering our home value, and raising our taxes, we feel it is a wash, no benefit to us.
hospice care at home?
First day you can apply would be Jan. 1, 2018!! At least 5 years and a day to be safe.