Medica look back period
My aunt sold some property to me in Oct 2002 for a price below market value. She may have to enter a nursing home in the near future. Will the property she sold me affect her medicaid status and if so will I have to pay some penalty.
Asked on 4/23/06, 10:26 am
1 Answer from Attorneys
Phroska L. McAlister
PHROSKA LEAKE McALISTER
Re: Medica look back period
POSSIBLY. The "look back" period is generally 3years. But, in "special circumstances" 5 years.
So, to assess or limit the possibilty of penalty. You/Your aunt should be prepared to present her "budget" covering the past 5 years; and the reasonableness of the transfer to you, given the nature of your relationship and what you have done and do for her, to date.
Good luck,
Answered on 4/23/06, 5:17 pm
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