Follow
Share
This question has been closed for answers. Ask a New Question.
Here is a very good thread on this subject.
The short answer is if your mom has $20,000 to give away she needs to see an elder attorney before doing so in order to understand the ramifications for her future.

https://www.agingcare.com/questions/protect-mothers-savings-when-goes-into-nursing-home-197284.htm
Helpful Answer (2)
Report

Are you talking about the IRS gift tax, or are you asking about the Medicaid penalty if she requires nursing home care?
Helpful Answer (1)
Report

There is a formula that determines how many days your mother will have to self-pay before she is eligible for Medicaid. I don't know it, but maybe someone can work it out for you. What state would her nursing home be in?
Helpful Answer (0)
Report

20,000.
Helpful Answer (1)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter