When MassHealth looks back into the 5 years of transfers one has made before getting terminally ill and needing a nursing home, what to they consider? More specifically, lets say - every 2 weeks, one takes $250 cash out for spending money. Would that be questioned? If one were to buy a new kitchen table on their credit card for like 1,500 would that be considered? Just trying to get a sense if they only question specific checks written out as gifts, like $100 to a grand kid for graduation and so on. Thanks!
Search Existing Questions
Login to Post Questions
Tell Us What You Think
The Editor, Mark Bernardin, is an attorney living in MA. Please send your suggestions or comments to: TheEditor@malawforum.com
Disclaimer
The answers and information provided on this site are for informational purposes only and are NOT substitutes for professional legal advice. Before making legal decisions, you should discuss your specific circumstances with an attorney.
Transfer of assets during Medicaid look-back
First, you need to distinguish between transfers of assets to another person, and purchases made for yourself. If you use your money to buy a table or for day to day living expenses, that is not relevant in terms of Medicaid planning. Also, when it comes to transfers to third parties, there are limits to what the state will be interested in. It is not uncommon, when talking to an attorney about Medicaid planning, for a person to be asked to disclose to the attorneys any and all transfers of assets over $1000, for example. Small gifts for grandchildren are not important. Good luck.
What about Cash?
Lets say one normally takes 150/wk cash for misc expenses, and one does this for 5 years, then needs nursing home care. Will the total of cash taken out over those 5 years be questioned?