Permitted Transfers
While most transfers are penalized with a period of Medicaid ineligibility of up to five years, certain transfers are exempt from this penalty. Even after entering a nursing home, you may transfer any asset to the following individuals without having to wait out a period of Medicaid ineligibility:
- Your spouse (but this may not help you become eligible since the same limit on both spouse’s
assets will apply). See information on “spousal refusal”. - Your child who is blind or permanently disabled.
- Into trust for the sole benefit of anyone under age 65 and permanently disabled.
In addition, you may transfer your home to the following individuals (as well as to those listed above):
- Your child who is under age 21.
- Your child who has lived in your home for at least two years prior to your moving to a nursing
home and who provided you with care that allowed you to stay at home during that time (“caregiver child”). - A sibling who already has an equity interest in the house and who has lived there for at least one year
before you moved to a nursing home.
Have questions or need further information [contact me].