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Author: Aragon4 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19412  
Subject: Liquidating Assets (gifts) Prior to Death Date: 8/16/2000 5:54 PM
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My wife's family is wanting to liquidate my father in-laws estate by gifting $10K to each of the kids, over the next couple of years. The reason is, if he has some long-term medical issues, the father does not want to use up his estate for medical bills. He would like to have Medicare/Medicaid take care of the medical bills. He lives in Connecticut and wants to pass his estate on to the kids.

I used to live in California, and I believe there is a law that states if a person "gifts" there estate away within 3 yrs (?) of the medical problems, the state would go back to those recipients for the return of the gifts, before Medi-Cal would kick in. Basically, consuming the estate before making the person eligible for benefits.

Since Medi-Cal is state specific, is there something like this at the Federal level? Or Connecticut level?
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