LEGAL GUIDE
Written by attorney Jason Allan Jenkins | May 30, 2016

Can I protect my assets by transferring them to my kids?

You may be able to protect your assets by transferring them. But, this may cause other effects. Medicaid imposes a 5 year look back period for all transfers. If a transfer is for less than fair market value and is done for the purpose of qualifying for Medicaid, you could be assessed a penalty and prevented from applying for Medicaid.

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