Many Elderly clients must decide, is gifting to protect assets from Nursing Home spending right for me? Will I receive the same care if Medicaid pays for my stay in a nursing home? What if I need the money or assets that I gifted to qualify for Medicaid payment of my nursing home costs for something unexpected? Many clients want to protect their assets for their children, but are faced with these and many other questions when considering the Elder Law and Medicaid asset protection planning. The Psychology of gifting for Medicaid can be as important as the legal issues.
Beyond the personal fears, there are also legal issues that must be confronted when making gifts to qualify for Medicaid. The Deficit Reduction Act of 2005 (DRA) provides the basis for gifting qualification. Luckily, there are many planning options available to clients considering making gifts. The most appealing is often the use of the Medicaid Asset Protection Trust which creates creditor and asset protection that will likely allay many of the fears of the elderly client when making a significant gift.

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