‘Gift and return’ strategy saves some elder assets
an adult child comes to my office, a frequent question “Is their anything I can
do to save my mother’s assets?” The child states “I’ve been told that I have to
spend all of my mother’s assets on the nursing home.” Additionally, “I cannot
do anything, as my mother did not do any medicaid asset planning. Because of
the five year look back period, we can’t do anything.”
we see these same MYTHs all
does NOT have to spend everything
to pay the nursing home.
I state that “Even if your loved one is entering or in a nursing home we can
save about half the assets, depending on your facts and circumstances, only
half of your mother’s assets need to be spent on her care.
next question, usually, is how?
a "gift and return" strategy, we can save about half her assets,” I
next question, usually, is how does it work?
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