Will the State of Ohio or a nursing home go after my children to claw back gifts which I gave them within 5 years of my being in a nursing home and asking for Medicaid to pay for my care? No, but the consequence could be severe for you: the State will refuse to pay for your nursing home care for a “penalty period,” which is calculated according to the value of the gifts you made. The more you gave away within the 5-year period, the longer the penalty period. Before making any gifts to family members (or anyone or anything else), you should consult with a qualified Elderlaw attorney.
-Attorney Jack N. Alpern
Latest posts by Jack N. Alpern, Estate Planning Attorney (see all)
- “Last Will and Testament” Origin - April 1, 2021
- How to Dispose of “Stuff” - April 1, 2021
- Beneficiary Designations - March 1, 2021
