Legal Question in Elder Law in Ohio

Re: Medicaid Help Question

These assets will be considered as available assets, because your father has control over the assets until he dies. He could change the death beneficiaries at any time, so you cannot argue that the gifts have already been made. Since these are the only assets that remain, I assume you have either applied for Medicaid, or will be soon. The caseworker will look back 36 months to determine if any transfers for less than fair market value have been made. If your father gives these assets to his grandkids now, you should wait 36 months before you apply. Since I don�t know how much these assets are worth, I cannot make a recommendation regarding giving the assets away at this time. Generally, the amount of the gift is divided by $4000 to determine the number of months of ineligibility. If the assets are substantial then it may make since to make the gifts and wait 36 months before applying. If the assets as small, then it doesn�t make much since.

Another consideration is whether your father has been making cash gifts to the grandkids on a regular basis, whereby these assets would not be out of the ordinary. If so, the argument can be made that the gifts where not made for the purpose of qualifying for Medicaid.

Also, is your father married? If so, then he could give the items to his wife. If married, his wife can protect entirely the first $17,856.00, one half the assets between $35,712 to $178,560, and $89,280 if the assets exceed $178,560.

Contact me if you have any questions.