×

The Law Office of Barry E. Janay, P.C. (“LOBEJ”) is responding to the COVID-19 crisis in real-time as the situation continues to develop. Presently, LOBEJ is open and working at nearly full capacity. However, to protect our team, all of our offices are closed to visitors and most of our team is working remotely. We are available to respond to our clients’ needs as usual. We appreciate your continued confidence and your business. On behalf of all LOBEJ team members, we are mindful and appreciative of our relationship with you and look forward to supporting you during this crisis. Please continue to look to this page for updates on our operations and continuing guidance from our attorneys on subject matters relevant to you personally and your businesses as we make our way through this crisis together. Learn More >

Elder Care Law: The Medicaid Eligibility “Look-Back Period”

Medicaid Lookback

Medicaid Has A 5 Year Look-Back Period

Before anyone can enroll in Medicaid, the government conducts a financial eligibility check. Primarily, they’re looking to ensure that applicants have exhausted all available funds.

What many families don’t realize, however, is that the government examines five years’ worth of financial records. So let’s say your 80-year-old father applies for Medicaid in November 2018. Before approving, government agents will look at all his financial dealings between November 2013 and November 2018. If your dad gave away sums that exceeded allowable gifting amounts or sold assets under market value during that time, he’d be penalized and barred from receiving Medicaid benefits for a calculated amount of time. In extreme cases, people render themselves ineligible for years by failing to document appropriately or establish estate-friendly financial plans.

Elder Law Attorney

Barry E. Janay P.C., Elder Law Attorney

If you want family members to inherit your money, map out gifting plans years in advance. Many people assume that establishing an irrevocable trust is the answer, but in some instances doing so can be disastrous.

Consult with elder care lawyers. They can review the situation and map out an ideal financial plan tailored to your family.

Many middle-class families apply for and receive Medicaid for elderly parents. The key is planning. Get in touch today. Let’s get you squared away.

Schedule Appointment