QUESTION
giving gifts before you go into a nursing home
Asked on Oct 29th, 2014 on Elder Law - New Jersey
More details to this question:
my grandmother would like to buy gifts for her family before she goes toa nursing home. she will eventually apply for medicaid . she want to know if she can buy vs. gifting money with out and concequenses.
1 ANSWER
2 Awards
If she gives gifts within five year of applying for Medicaid, the gifts will make her ineligible, and a penalty will be imposed. It will be expected that she uses her funds for her care, and if she runs out of money, and still need care, she will be eligible for Medicaid and will continue to get care. If she gives her money away, and then tries to apply for Medicaid, she will be penalized.
Answered on Oct 29th, 2014 at 6:09 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship