I can't work & have a husband with Alzheimers so I put these in my name. Will I lose them? I am 75 & just had stocks put in my name. Will I lose these if my husband has to go to a nursing home? A neighbor just told me there is a 5 year look back if you transfer money before 5 years. I can't put up with this for 5 more years & need some help.
As for the "five-year rule," that does not apply to transfers between spouses. For transfers from you or your husband to someone else, however, that rule states that all gift transfers made by either of you within five years of applying for Medicaid will result in a disqualification ("penalty") period: the more that is transferred, the longer the penalty period. The exact penalty period is calculated differently state-by-state.
a n. home. She told me to get everything in my name. The house will be finally mind next March. I have to have a place to live so that was a concern, plus, I have to have enough to live on. I'm 75. Thanks for your help. Carol