Posts Tagged ‘single parent’

‘Gift and return’ strategy saves some elder assets

When 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.” Unfortunately, we see these same MYTHs all the time. Mother does NOT have to spend everything to pay the nursing home. Luckily, I state that “Even if your loved one is…

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Qualifying for Medicaid using “Gift and Return”

Using the Medicaid rules, the “gift and loan” strategy is explained.

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