Well, that would make things simpler, wouldn’t it? Unfortunately, Medicaid laws guard against such gifting through the use of the program’s five-year look-back period. Under that provision of the law, the program is authorized to review your financial transaction records for the five-year period directly preceding your application for Medicaid benefits. Gifts made within that five-year period could result in eligibility penalties that would cause your application to be denied for a period of several months or even years.
About Alan Augulis, Estate Planning Attorney
Mr. Augulis founded his Warren, New Jersey law firm so that he could focus his practice in the areas of advanced estate planning and tax law. Mr. Augulis has invested considerable time and energy helping to educate others on the topic of estate planning and has become a sought-after speaker in the tax and estate planning arena because of his informative and entertaining seminars.