Legal Question in Elder Law in California
My mother lives in California and has Dementia. We would like to know the limit there as far as spending down her money. How much per month can she gift and to how many people? Thank You,
1 Answer from Attorneys
If she has advanced dementia and lacks capacity, then if you take money out of her account and gift it to other family members, you may be committing Elder Abuse! If she has capacity, then she can gift up to $13,000 per person per year. However, you should consult with an attorney. It is unclear what your purpose is for spending down her money? There is no Estate Tax this year. If you want her to qualify for Medicare, there are "look back" provisions that will disqualify gifts made within 3 years or so of seeking benefits. Your mother presumably needs money for her own care as people can live a long time with Dementia. You should definately consult with an attorney to go over all of the specific facts relevant to your concerns.
Related Questions & Answers
-
What is used to determine a 75 yr women compentents Asked 10/29/10, 8:00 pm in United States California Elder Law
-
A friend of mine went to an elder law attorney to set up a trust. She wanted to... Asked 10/26/10, 10:48 am in United States California Elder Law
-
My father was in an assisted living where he lived independentaly until March 2010... Asked 10/23/10, 2:26 pm in United States California Elder Law
-
My grandfather died a while back,and he didnt leave leave a will. After he passed, a... Asked 10/19/10, 12:26 pm in United States California Elder Law
-
I was wonder if someone could explain what elder abuse is exactly. You see, I have a... Asked 10/03/10, 2:37 pm in United States California Elder Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
