This is something of a grey area. You must report most asset transfers to the Medicaid agency, and the transfer will usually cause a period of ineligibility for benefits. You could make an argument that the transfer of a non-countable asset does not need to be reported or, if reported, does not give rise to a penalty. This argument would not work in every state, but it could be that it is a common practice in your state. You will have to follow the advice of your local elder law attorney who will know how the rules are applied where you live.
Recent Posts
- Financial & Healthcare Planning for Children With Disabilities: A Guide For Parents & Caregivers
- Support for Family Caregiving Gains Momentum
- Paying For Long-Term Care: Know the Options, the Challenges, and What You Can Do
- Year-End Estate Planning: A Perfect Time to Review or Begin
- Elder Care Numbers for 2025: Medicaid, Long-Term Care, VA Benefits, & Gift and Estate Taxes
Recent Comments