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Strategies & Market Trends : Galapagos Islands
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To: mph who wrote (55437)5/3/2006 12:30:53 PM
From: Alan Smithee  Read Replies (1) of 57110
 
I'm with you on this one.

Used to be, an elderly person's estate could be depleted by gifts, thereby impoverishing the person and making him/her eligible for medicare. You, me and every other taxpayer then would bear the cost of paying for nursing home care for the giftor while the family enjoyed the benefit of those gifts.

Nowadays, if gifts or other transfers for inadequate consideration are made, there can be a disqualification for benefits based on the amount of the transfers.
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