Elder Law
My mother is 84 and in an Assisted Living facilty. We feel she will need full nursing home care in the very near future. She sold her house to us(brother and sister) in Sept. 2005 in Massachsetts. What is/was the medicaid ''lookback'' for assets owned then sold or gifted?
Re: Elder Law
The look back period for transfers prior to February 6, 2006 is 3 years in MA.
If you purchased the property for its fair market value, assessed value, there may be no look back period to apply. If you did buy it for less than market value, the gift portion of the sale would be that you would lose one day for every $267 of gift.
Good luck.
Re: Elder Law
The look back period for transfers prior to February 6, 2006 is 3 years in MA.
If you purchased the property for its fair market value, assessed value, there may be no look back period to apply. If you did buy it for less than market value, the gift portion of the sale would be that you would lose one day for every $267 of gift.
Good luck.
Re: Elder Law
The look back period for transfers prior to February 6, 2006 is 3 years in MA.
If you purchased the property for its fair market value, assessed value, there may be no look back period to apply. If you did buy it for less than market value, the gift portion of the sale would be that you would lose one day for every $267 of gift.
Good luck.
