Gifting Question

Q: I have a gifting question. I live in NY. My Mom gifted $77,000 to 7 of our family members in August of 2004. I know there is the 3 year look-back on gifts per Medicaid. Are we safe at this point if Mom needs to go to a nursing facility in the very near future? Also a question concerning the deed/title transfer on my Mom’s home. Mom had the house deeded, notorized and transferred to myself and my brother on 9/7/04 and filed with the town. Is the notorized date the gifted date or when the town finally recorded the transfer? Are we safe on this as well with the 3 year look back?

A: I’m not an attorney, but it sounds like you should be. The gifting date is the date the deed was recorded.

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