Legal Question in Elder Law in Ohio

Re: Medicaid and spending down assets

I depends on how you transfer the assests. I do not know all the details, so I cannot give you advice. What follows are is for informational purposes only. The home must be transfered for fair market value if it is being sold. So no sweet heart sale. If the house is going to be a gift to a family member, get an estimate done, and be sure to prepare a gift tax return. As for cash, determine what it will cost for the home for the 3 years without medicaid. Then transfer only the balance. Do not apply until you know she is qualified. Do not transfer the assests into trust. The waiting perior is 60 months for transfers in trust. This is complicated. I suggest you speak to an attorney. A mistake can be very costly.