Many people want to know if they can give away their assets to protect them from Medicaid. The answer of course is it depends. The bottom line is that most gifts (even those under the IRS permitted $13,000 limit) will disqualify an applicant and their spouse for MassHealth benefits. However, there are many exceptions where MassHealth allows you to make gifts. For example you can transfer assets to a disabled child without any penalty. In addition, you can give your house to a so called caretaker child who lives with you and helps take care of you.
If you are thinking of making gifts, its best to first consult with an attorney at Cohen & Oalican.
This is fifth in a series of questions and answers regarding your legal rights dealing with Medicaid (MassHealth). Thank you for putting your trust in our Elder Law legal practice, Cohen & Oalican, LLP
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