gifts from the elderly
My 97 year old grandmother is dying of cancer. She has about $23000 left from her life savings. Her son and the nursing home have taken the rest. My husband recently received financial and medical power of attorney for her. Is there any way she can give small gifts ($1000 or $2000) to each of her grandchildren, greatgrandchildren or great great grandchildren so it all doesn't have to go to the nursing home?
1 Answer from Attorneys
Re: gifts from the elderly
Gifts such as these will incur a penalty period in the eyes of medicaid, which will result in a period of ineligibility. This means that for a period of time someone else will have to pay the nursing home if your grandmother has no other money. This is a situation that can cause big problems when gifts are made against the rules.
The law provides for some ways to use money, but more information would be needed to see if any apply.
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