if assets are distributed to family members prior to going into a nursing home, can the assets be demanded back by the government?
Asked on 7/09/15, 7:22 pm
1 Answer from Attorneys
Ronald Holtsford
Ronald A. Holtsford, LLC
There is generally a 60 month Medicaid (which I assume you are referring to) look back period which includes gifted assets. The assets are not per se returned but the institutionalized applicant is penalized until the Medicaid determined value of the gift is paid to the nursing home based on a yearly determined divisor (currently $5500/ month). Considering the applicant has probably spent down assets to about $2000 less excludables where else can the applicant turn but to wherever the assets were gifted in hopes of return to pay the penalty amount.
Answered on 7/09/15, 7:43 pm
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