Legal Question in Wills and Trusts in Connecticut
Stock Gift from a Parent
Just about 2 years ago, my mother gave me stock as a gift. She has since then been put into assisted living home. She is now applying to be put onto state assistance. Will the stocks she gave me earlier be given to the state?
Asked on 5/06/04, 8:29 am
1 Answer from Attorneys
John Heffernan
Heffernan Legal Group, LLP
Re: Stock Gift from a Parent
No. The gov't doesn't take back a gift; it merely says that the value of a gift given away w/in 3 yrs of the date of application for Title XIX benefits will be included in the calculation of her assets in deciding when she becomes eligible. But even then, if it was a relatively small gift and the sort of gift she regularly gave to relatives as a matter of course, it won't be counted at all.
Answered on 5/06/04, 9:31 am
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