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 ...
Once there is a lien on the property, if the property sells while the Medicaid recipient is living, they cease to be eligible for Medicaid because of the cash from the sale. In addition, they would have to satisfy the lien by paying back the state for its coverage of care to date. In...