Today’s Q&A on ElderCareMatters.com is about reversing a gift in order to qualify for Medicaid Benefits

Question:   Mom gifted her home to my sister several years ago.  Is there any way that this gift can be reversed so that Mom can be approved for Medicaid benefits?

Answer:  Many states allow a reduction of a transfer penalty by returning some of the transferred property. All states will eliminate a transfer penalty with return of 100% of the transferred assets. So, yes the penalty can be eliminated with return of the home. Whether you should do this or not requires a calculation dependent on when the gift was made as well as several other factors.

To find help with this and other elder care matters, go to: ElderCareMatters.comAmerica’s National Directory of Elder Care / Senior Care Resources for Families.

An ElderCare Matters Partner
Stephen J. Bailey, Esq.
Birmingham, Alabama
An ElderCare Matters Partner

 

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