so new york currently for

nursing home medicaid

has a five-year look back on all

transfers

commonly people

don’t understand what a transfer is

and this is where the questions come in

so transfer can be absolutely anything

it could be you changing title on your

bank account um it could be you changing

the deed to your house

it could be you changing the beneficiary

designation on one of your assets if

those are all done within that five-year

time period if you god forbid end up in

a long-term care facility or nursing

home

even though we would essentially be

setting up what’s called the domestic

asset protection trust for medicaid

purposes

after your death they would still be

able to potentially clawback

a portion of your assets that are held

in this trust

if you were placed in long-term care

during that five-year period