Why You Should Rethink Donating Assets to Your Kids! 💰 ** None of the opinions expressed are those of our own or should be construed as legal advice. Please consult a lawyer in your jurisdiction prior to making any estate planning decisions. #podcast#LegalAdvice#lawyer#attorney#wealth#money
please don't donate anything to your kids if you think you might need to go to a nursing home nothing at a house not a car not a piece of jewelry nothing why
because of the rules on medicaid eligibility to qualify for nursing home
are the way they are medicaid will look back five years sixty months from the date of your application for medicaid and they're gonna see did you give away any asset
for less than fair market value in return
and if so they're going to attribute the value of that asset to you so if you gave
your
grandchild twenty thousand dollars for college medicaid is going to attribute that to you and say oh no you have twenty thousand dollars could you make that gifts
Text generated automatically and there is a chance to be inaccurate
