Myth: “Medicaid doesn’t count the annual exclusion gifts”
A few days ago I met with a new client whose elderly relative had given out $12,000 gifts per person to a set of favorite relatives about 4 years ago because someone at the bank told her that if the gifts were limited to this amount $12,000 it would not be counted against her if she had to go to a nursing home. You would not believe how often this incorrect legal advice is given out, often by...