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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35406
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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My mom has been diagnosed with Parkinsons and doctor said

Customer Question

Hello! My mom has been diagnosed with Parkinsons and doctor said she needs full time care. She has about $125,000.00 in an IRA. Can that money be put into a trust or gifted to me, in order to get care giver(ssi) benefits?
Submitted: 1 year ago.
Category: Social Security
Expert:  LawTalk replied 1 year ago.
Good morning,
I'm Doug, and I'm very sorry to hear of your mom's situation. My goal is to provide you with excellent service today.
I'm sorry, but it is not possible to transfer assets like those your mom has to a trust and somehow become eligible for SSI benefits or for Medicaid benefits often paid for in nursing homes.
Medicaid has a 5 year look-back period and unless the money has been given away for more than 5 years, it will still be deemed an asset of your mother's and prevent her from qualifying for need based aid and benefits such as SSI and Medicaid.
I understand that you may be disappointed by the Answer you received, as it was not particularly favorable to your situation. Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so.
If you have additional questions, you may of course reply back to me and I will be happy to continue to assist you further until your questions have been answered to your satisfaction.
Kindly take a moment to rate my service to you based on the understanding of the law I provided. Please understand that I have no control over the how the law impacts your particular situation.
Thank you,
Doug