QUESTION
I have POA for aunt who is 90. Her assets were in her name until a year ago. POA gives me right to gift.
Asked on Sep 29th, 2012 on Estate Planning - New Jersey
More details to this question:
May I gift to spend down the money so she'll qualify for Medicaid? I don't want to do anything illegal. I saw a clause somewhere that said spending down would result in a penalty and delay Medicaid. Thank you for your help.
1 ANSWER
2 Awards
If you give gifts, those gifts will cause a Medicaid penalty. You can't give gifts as part of the spend down even though the POA probably says you can give gifts.
Answered on Sep 30th, 2012 at 6:46 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship