Elderly Law
How Long of a look back is there in the state of Illinois in transfering assets?
Asked on 2/19/08, 5:05 pm
2 Answers from Attorneys
John Steele
Steele Law Firm
Re: Elderly Law
depends on the assets. If it is obvious and smells fraudulent, I bet the agency (IRS, etc) or company losing out will not let it go. Remember that fraud doesn't have a look back limitation.
Answered on 2/20/08, 10:50 am
Kristen Opaczewski
Delaney Law Offices, Ltd.
Re: Elderly Law
If you are referring to the period of time that the State examines transfers of assets in determining Medicaid eligibility, the lock back period for the transfer of assets is currently 3 years in Illinois. However, you should know that there is a possibility that Illinois will change it to 5 years soon, by enacting law that has been passed at the federal level.
Answered on 2/23/08, 12:14 am
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