Medicaid Gifting Eligibility
Oftentimes, clients come to our office when planning for Medicaid and have questions about Medicaid gifting eligibility. Watch this educational video by experienced Buffalo Medicaid attorney Robert Friedman to learn more.
Clients often confuse the federal gift tax exemption of $14,000 with Medicaid eligibility. The $14,000 that you are permitted to give away per year per person only refers to the US state and gift tax laws. It has nothing to do with Medicaid. If you are making these gifts, they may disqualify you from receiving Medicaid. You may be penalized regardless of what the federal US income and gift tax rules are.
Do you have questions about Medicaid eligibility? Contact dedicated Buffalo Medicaid attorney Robert Friedman for assistance. With over 70 years of combined experience, we have the experience needed to help you navigate the complicated maze of medicaid rules (and exceptions to those rules) to help you and your family preserve the maximum amount of assets allowable by law
Don’t try to qualify alone, contact us today and let our experience work for you!
This educational legal video was brought to you by Robert Friedman, an experienced Buffalo medicaid attorney.
Related Medicaid Videos
- Long-Term Care Insurance
- Nursing Home Costs
- Nursing Home Care Requirements
- Emergency Medicaid Planning
- Institutionalized Spouse
- Medicaid Look Back Period
- Prepaid Funeral Arrangements
- Qualifying for Medicaid with a 401K or IRA
- Spending Down Assets
- Gifts to Disabled Children
- Preserving Assets with a Healthcare Proxy/Living Will
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