Medicaid and a Three-Way House Split

Q: Hi Jeff, found your financial column interesting. What if my mom sells her house and splits the money three ways (me, my brother and her) and goes into an apartment. Then a few years later needs assisted living. Will they make us pay back what she gave us?

A: It's a gift so it will cause her to be disqualified for the number of months the gift would have otherwise paid for...assuming she applies for Medicaid within 5 years.

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