Legal Question in Elder Law in Pennsylvania

Assets Eligible

What is the time period for when a parent signs over/or sells his home to a child that it is eligible as an asset if the parent has to go into a nursing home.

The house was sold to (2) siblings for one dollar.


Asked on 8/16/06, 10:10 am

1 Answer from Attorneys
Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: Assets Eligible

You asked about the lookback period for Medicare long term care eligibility.

Generally the lookback period for transfers of assets has been increased to 5 years which is greater than the laws held previously.

There are means to protect assets of the wealthy and to maximize Medicare/Medicaid benefits. These options must be discussed and arranged with a qualified lawyer in order to set them up properly.

Regards,

Roger Traversa

Email: [email protected]

Phone: 215.279.8940

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Answered on 8/16/06, 11:05 am


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