For millions of seniors nationwide, Medicaid provides a safety net for people who find themselves requiringlong-term care. Most Americans aged 65 and older – roughly70 percent– will need these kinds of services in their later years, according to research. Meanwhile, the cost of long-term care...
For additional information, check out the following articles: Medicaid Estate Recovery and Medicaid Payback Rules Protecting Your House from Medicaid Estate Recovery How Does the Medicaid Lookback Period Work? Lady Bird Deeds: A Different Kind of Life Estate Created date: 03/12/2013 Related...
Gifting strategies: Medicaid has a lookback period (usually five years) that penalizes asset transfers or gifts made below fair market value. An elder care lawyer can help structure gifts and transfers in a way that minimizes penalties. To make the most of Medicaid planning, be sure to work ...