Anonymous
Not applicable

Deductions & credits

Thanks for the comment. The inter-spousal transfer was done per direction from well experienced elder law attorney (On advisory committee with WA state Medicaid office).  WA Medicaid law follows the federal law that married couple can gift infinite amount of asset t to each other and does not fall under the 5 year look back rule. This enable the first spouse to go onto Medicaid while sheltering the asset for the 2nd spouse's use. Of course when its time for the 2nd spouse seeking Medicaid long term care, they can not shelter the asset via spouse.

 

Of course Medicaid rules are somewhat different for every state so definitely consult elder law attorney for the state in question.