As a Buffalo Elder Law Attorney, people often ask me about the penalty for the five-year look-back period. Essentially if you’ve made any gifts in the past five years prior to applying for Medicaid, you will be penalized. Gifts are those that are done in anticipation of going to a nursing home. The gifts may involve gifts of cash or transfers of assets to your children without receiving adequate consideration.
Are you worried that you might have to pay Medicaid penalties? If so, contact the experienced Buffalo Elder Law Attorney Robert Friedman.