Medicaid Mistakes

“I know my mom can’t keep the house in her name when she goes into care, so we were going to transfer it over to the kids.”

“My dad wasn’t doing a good job with his finances, so we took all of his money out of his name and put it into my account in order to protect him.”

This is just an example of some common mistakes people make when trying their best to care for their parents, but without the benefit of understanding the significance of their actions in a Medicaid context.   If either of the persons above needs Medicaid for long term care, either of these scenarios can land them squarely in a penalty period in which Medicaid will not pay.  Moral:  When it comes time to care for your parents and their finances, go see an elder law attorney who can help you navigate through the maze – it is generally less costly to plan ahead than fix problems.

This article is written by an attorney at Wyatt & Mirabella, PC. Always consult an attorney before making any legal decisions. To make an appointment today for a free consultation, please click here to contact us.