One of the biggest mistakes people make when trying to do Medicaid Planning on their own is to start gifting away $15k a year to kids and grandkids because they "heard somewhere" that those gifts are OK. The fact is they aren't, and Medicaid will impose penalties on any of those gifts made within the previous five years of the Medicaid application. So just what is this $15k exemption people hear about? It has to do with federal gift taxes and whether or not the giver has to file a gift tax return. That's it. It has nothing to do with Medicaid. Unfortunately, we have several horror stories of when people have tried to do their own family's Medicaid Planning on their own. To get some real information, please download my free e-book and other information at www.CareAssistanceCenter.com/free and then let us know how we can help!
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