I am a single grandmother who would like to gift $17,000 to each of my nine descendants for several consecutive years so that an assisted living home does not get the bulk of the money that I have saved. I have one son with a wife and three adult kids, and one daughter with two adult kids and one infant grandchild, so that is nine people. I will write nine separate checks. My son's family will deposit their checks into one account that my son will maintain. My daughter's family will deposit their checks into one account that my daughter will maintain. I am aware of the five-year lookback period for Medicare and that the latest of my gifts might possibly trigger Medicare's penalty period. That's why my 58-year-old son and 60-year-old daughter will pool each family members' gifts and sit on the money until a potential penalty period is paid out. Can each family combine their gifts into one account, or do each of the nine people need to deposit their gifts into nine separate accounts?
