Elder Law Attorney in New York, New York
What is the Look-Back Period in New York?
What is the Look-Back Period in New York?
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so new york currently for
nursing home medicaid
has a five-year look back on all
transfers
commonly people
don’t understand what a transfer is
and this is where the questions come in
so transfer can be absolutely anything
it could be you changing title on your
bank account um it could be you changing
the deed to your house
it could be you changing the beneficiary
designation on one of your assets if
those are all done within that five-year
time period if you god forbid end up in
a long-term care facility or nursing
home
even though we would essentially be
setting up what’s called the domestic
asset protection trust for medicaid
purposes
after your death they would still be
able to potentially clawback
a portion of your assets that are held
in this trust
if you were placed in long-term care
during that five-year period
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NY estates planning & probate attorney Russel Morgan, Esq. explains how the Look-Back Period works in New York. He mentions that in New York, nursing home Medicaid has a five-year look-back period on all asset transfers. Many people don’t realize what qualifies as a transfer. It can include virtually anything: changing the title on a bank account, transferring the deed to a house, or altering the beneficiary designation on an asset.
If any of these transfers occur within that five-year window and the individual ends up in a long-term care facility or nursing home, even if a domestic asset protection trust was established for Medicaid purposes, the state could potentially claw back a portion of the assets held in the trust. This clawback applies if the person enters long-term care during that five-year period.
