Legal Question in Real Estate Law in Iowa

My Mother is 94 years old, she has 3 children which she gifts money to every year .from $1000 to $3000 per year. She has a CD worth about $31,000 and checking about $10,000. Her health is failing and she feels she would like to enter a nursing home, but would like her children to have at least a good share of her money. How much can she gift legally without causes any legal conflicts?


Asked on 9/17/12, 6:47 pm

1 Answer from Attorneys
Robert Luedeman solo practitioner

If she's going to use medicaid or medicare to pay for the nursing home there is a five year lookback period, and anything she may have given away in that time can be clawed back.

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Answered on 9/22/12, 11:23 am


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