Westchester & Putnam County Estate Planning Lawyers > VIDEO FAQS > What is the penalty period with Medicaid?
What is the penalty period with Medicaid?
The penalty period in Medicaid context is the period of time that a person will be ineligible for Medicaid due to a transfer of assets and uncompensated transfer of assets. There’s a misconception that you’re allowed to give $14,000 per year per person. However that’s an estate tax issue. When it comes to Medicaid, all gifting is out. And before doing any gifting, you should consult with an attorney.
