What’s called the 5 year look back? Folks with a lot of money and lawyers in place are more likely to have trusts long before the 5 year look back would be a problem. People with low to middle income, like my grandmother, are much less likely to have a trust to begin with, sadly.
Look it up and it will probably be explained more succinctly than I can here. Basically applicants for Medicaid or LTC can not have transferred assets for less than fair mkt value within 5 yrs of applying for it. So for eg, transferring their home to their children, to protect it.
I know what it is I just didn’t understand the point you were trying to make about it.
I understand the look-back period. This is my industry. I don’t care if they did it 5+ years ago. If they have millions in assets to put in a trust, they don’t deserve Medicaid ….. PERIOD. Medicaid is for the poor, not for people trying to cheat the system.
Oh, I’m in agreement on this. I’m just pointing out that most people need to be informed about protecting their loved one’s home. That’s it.