Mr. Pencil Posted November 4, 2013 Report Share Posted November 4, 2013 Hello to all this AM. Does anybody know for sure if Virginia has or does not have a look back law concerning prior gifts? Many thanks The five-year look back is a federal requirement for Medicaid everywhere. Quote Link to comment Share on other sites More sharing options...
mrichman333 Posted November 7, 2013 Author Report Share Posted November 7, 2013 The five-year look back is a federal requirement for Medicaid everywhere. Sorry, it the VA not Virginia; I misunderstood my clients email when he used VA Quote Link to comment Share on other sites More sharing options...
Mr. Pencil Posted November 7, 2013 Report Share Posted November 7, 2013 Sorry, it the VA not Virginia; That's what I understood because you said Sr. Care Benefit, which sounds generic but is a specific program for veterans. Also, you said 80K limit. I don't know the details but I'm sure they let vets keep more than the Medicaid limit of $2000. And apparently no look back. An estate planner might suggest putting the excess assets into a special needs or other irrevocable trust so it wouldn't count for eligibility but would still be available for her lifetime needs. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.