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She is not on Medicaid. She has over 300k is banks. Can she give some of this as gifts to kids and grandkids?

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No, look at the posts here from people who did and then found out Medicaid wouldn't pay for care. Medicaid would consider it a misappropriation.
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Thank you. I did read the posts.. All I see is if your going to apply for Medicaid then don't touch the Money. I thought I was clear that she will never need Medicaid .
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MommaD - she can gift whatever & however she likes but keep in mind that although she is fine financially right now her health situation could change and the 300K could get wiped out with a couple of bad health situations. But if mom is basically in good health; a young 80 - 85; has stable income coming in that more than covers her AL costs then I'd go for getting rid of 200K. asap. Now realize mom would have to put off asking for any govt assistance till the summer of 2020…..and that is a long long time for things to change...

It's my experience that if they live long enough they will run out of money (unless they are generationally wealthy and their level of caregiving will change that they need a NH, so then end up applying for Medicaid. My mom didn't need to apply for Medicaid till she hit her 90's so divesting in her 80's was good planning. I'd run the risk & go ahead and move 2/3 of all assets now and plan on a nice July 4th event with your mom and the beneficiaries of her largess. Does mom have a FA & elder attorney? If so, I'd start there and ask for their suggestions for your plan. What often happens is that everybody gets an even amount and the FA opens new accounts for each of the beneficiaries based on what mom investment leanings. If any of the funds are in brokerage accounts it will take time to get these moved out and paperwork in so you want to start on all that soon. If this is all liquid, then I'd speak with a CPA too as to how to do this asap and get it done right for 2014 taxes. Ask those who are getting the $ if they want it too. When I was executrix, one of the beneficiaries declined for a tax reason so sometime folks may have a trust or a UTMA account they would prefer the $ to go into instead. Personally I'd steer clear of the banks and anyone (banks, FA or others) who is focused on selling any insurance stuff as I bet they will try to get her to annuitize some of this for her future needs - it sounds like you want to just get the $$$ out to others.
Also check her insurance policies to see if there is any cash value in any of them, as you need those changed too, Good luck & you a fortunate to be able to have the ability to do this. Somebody gave your folks good advise and they benefitted from it to be able to pass on to family. hope mom stays healthy till 2021!
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If you are 101% sure she will never need Medicaid, then yes, GIFT away!
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Elders like giving money away, the problem is $300k is a respectable amount, however, end of life expenses being as high as they are, it is easy to run out of money. I hope she does not run out so she can choose her living and health care without government restrictions.
I strongly suggest that those on the receiving end have the foresight and kindness to hold on to any gifts rather than spend them, and be willing and able to cover the penalty period should Gma ever outspend, out-gift, her savings and require taxpayer support via Medicaid.
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