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Gifting Money Prior to Nursing Home: Medicaid Qualification Effect - Seth Schlessel
From Schlessel Law PLLC - In this episode, we explore the topic "Gifting Money Prior to Nursing Home: Medicaid Qualification Effect" and how asset transfers can impact Medicaid eligibility in New York. Gifting money or assets might seem like a good strategy for managing your estate, but it can lead to complications if not done in accordance with Medicaid regulations. The five-year look-back period in New York is a critical factor to consider, as any transfers made within this timeframe could result in penalties and delays in eligibility. We dive into what counts as gifting under Medicaid…
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