Rochester Elder Law Attorney Explains Medicaid Gift Giving
- Many of the rules of medicaid gift giving vary from county to county.
- New York State used to have a gift tax, and actually eliminated one of their taxes.
- The Federal Gift Tax is at $5.3 Million and above.
- For people who have large estates, they can give away $14,000 per year to as many people as they want.
- They will review your pattern of gift giving to make sure money is not being given away to qualify.