I have some questions about Medicaid and gifting.
First question on Medicaid is can the aging parent still own their home? Is it best to have a child on the home deed? Is there a value limit the home can be? On this so called gifting watch. Medicaid goes back 5 yrs looking at money gifts. Does this include checks for birthdays and Christmas? Which would be much less that a hardship gift like a down payment for a car or pay a childs house note if a parent wanted. Is there a value amount the can gift? And the big question is what if parents have a child freeloader who does not work, owns their own home and has been receiving monthly support for yrs and well over the $13,000 amount each parent could give. Child is healthy and not getting disability assistance of any kind. If the parents run out of money paying out of pocket for a nursing home and apply for Medicaid the money given to the child would need to be paid back to receive Medicaid assistance?