Medicaid Attorney in New York, New York

Can making a gift before applying to Medicaid save assets?

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it depends on when the gift is made so
if it’s made if you’re looking to go
into a nursing home and you’re making
that gift aka that transfer
within five years of being taken into a
long-term care facility they can still
claw back a portion of that gift
depending on when it was made if it was
made outside of that five-year window
generally it’s safe

NY estates planning & probate attorney Russel Morgan, Esq. explains how making a gift before applying to Medicaid can save assets. He states that it depends on when the gift is made. If the transfer occurs within five years of entering a nursing home or long-term care facility, Medicaid can still potentially claw back a portion of that gift. However, if the gift was made outside of that five-year window, it is generally considered safe.

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