gifting
I understand the state, NY, can go back 7 years to look for money should my mom need a nursing facility. Is gifting a good thing for her to do? She is 81. Can we/should we spend the money or put it into tax free bonds? Can the state take or ask for the money back if we spend it?
Re: gifting
Lots of "ifs" to your very broad question, and the answers also have a lot of "ifs". There's no such thing as "one size fits all" Medicaid planning. If mom has assets and you're serious about protecting them, then make an appointment to see an attorney. You're not going to be able to get free advice over the internet which is going to have any value whatsoever to your situation.
Good luck.
Rick Bryan
New York, NY
Re: gifting
Lots of "ifs" to your very broad question, and the answers also have a lot of "ifs". There's no such thing as "one size fits all" Medicaid planning. If mom has assets and you're serious about protecting them, then make an appointment to see an attorney. You're not going to be able to get free advice over the internet which is going to have any value whatsoever to your situation.
Good luck.
Rick Bryan
New York, NY
