Medicaid spend down
When trying to do a spend down can a married couple each gift their children and grandchildren and if so what is the max amt.
Asked on 9/20/07, 8:53 pm
2 Answers from Attorneys
Sanford Mall, JD, CELA
Mall Malisow & Cooney, PC
Re: Medicaid spend down
No. Gifting for Federal tax purposes is still considered a divestment (transfer that will cause a penalty) for Medicaid purposes. There are very good ways to accomplish what you want but I suggest you seek the advice of a competent elder law attorney in your area. Let me know if I can help.
Sandy
Answered on 9/20/07, 8:57 pm
Mitchell Roth
MW Roth, Professional Law Corporation
Re: Medicaid spend down
Spending down is not a good option under most circumstances since MediCaid has a look back provision, and there are far better options. Consult an attorney knowledgable in Medicaid planning.
Answered on 9/20/07, 9:33 pm
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