Mom is in so-so health, still lives at home with assistance from me and from home health care. Owns home free and clear, and has considerable financial savings. She wants to begin giving some of the money to me to invest for myself, but I'm wondering how Medicaid will view this if she ends up having to go to a nursing home at some point.
Is there some sort of threshold for how much money is allowed to be gifted away? For example, if she gave me $500 a month, would they scrutinize it? Or are they looking for huge dollar amounts?
With regard to the house, it's multifamily and I live in one of the units in exchange for upkeep and paying some utilitii. I had heard that it may be exempt from Medicaid if I've cared for her for the past two years. But, I'm unclear on how they define caring for her... I'm certainly not a doctor or nurse, nor is she legally my dependent. I do drive her around, pick up groceries/medicine and help out around the house in miscellaneous ways.