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First, you can gift up to $14,000 a year under the annual gift tax exemption if you choose to..
If you are talking about having to eventually apply for Medicaid to pay for any long term care, then there is a 5 year "lookback window" where they will review any transfers made within the last 5 years and can disqualify you from receiving benefits for a period of time if there are transfers within that period.
So if you don't anticipate needing long term care within the next 5 years, it is better to get everything out of your name as soon as possible, either by gifting it, or by putting it into an irrevocable trust, so you can protect it from having to be spent down on your own medical care as the asset limits are only $2,000 for an applicant as these are poverty based programs.