mother gifting home
Can my mother gift her home to her children prior to entering a nursing home?
Re: mother gifting home
You asked about gifting a home to avoid Medicaid seizure of assets.
The lookback period for transfer of assets upon qualification for residential treatment in a long-term facility has been raised to 5 years. So, in order to avoid a lookback and unwinding of the transaction there needs to be 5 years or more between the transfer and the qualifying event.
There are alternative arrangements for protecting assets, but you don't get those simply by asking on a board.
Regards,
Roger
