Cincinnati Investment Planning and Other Videos

Can I transfer my assets to my children just before I go into a nursing home and still qualify for Medicaid?

Category:

certified financial planning

Can I transfer my assets to my children just before I go into a nursing home and still qualify for Medicaid?

Question: Can I transfer my assets to my children just before I go into a nursing home and still qualify for Medicaid?

Answer: You can transfer your assets to your children and try to qualify for Medicaid; however, Medicaid has a 5 year look back rule that says that in the event that you transfer assets to your children that is an improper transfer if you try to qualify for Medicaid for 5 years after the date of that transfer. It is very important that you do not apply for Medicaid before the 5 year period has run and that’s another reason why you really should be working with an attorney if you are trying to do some Medicaid planning.


« Return to Video Lobby

Accountant