If my parents transfer their real property in FL to me will the state be able to take back any elder expenses paid by the state for a period of time?

Asked on July 4, 2009 under Real Estate Law, Connecticut

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You're probably concerned about Medicaid.  For details on elder care financial planning, you should really have a consultation with a lawyer who's familiar with elder care issues, because all of the facts of your parents' situation have to be considered. 

The last time I checked, Medicaid had a 36-month "look back" provision, for transfers of assets at less than fair market value.  In most states, the courts recognize Medicaid planning as a valid strategy, and the idea is to make the transfers before something like nursing home care is actually necessary, so that the 36 months are past when your parents have to apply for this.


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