Penalties for Gifts Under Medicaid
Medicare is a federal and state program that helps low-income seniors with limited assets and income afford healthcare. Many seniors believe their only option to qualify for the program is to “spend down” their assets. While this is true in some cases, proactive Medicaid planning can protect a substantial portion of your assets if done correctly. The program’s eligibility rules are complicated, as is the application process, so it is best to navigate the process with a specialized Medicaid planning elder law attorney well before you need to tap the benefits. The general rule is that anyone gifting assets within ... Read More
