You are welcome. It can get really complicated when you are dealing with the finances of an elderly parent. As Critter#2 pointed out, there is a five year lookback in many states if your mom ends up needing to have her nursing home care paid for by Medicaid. They then look at EVERY record of her finances for the previous 5 years--banking records, tax returns, investments, large purchases, gifts she gave, etc. There is a "spend down" process for assets that allows certain expenditures such as pre-paying for funeral/burial expenses, etc. Large gifts of cash, however, could end up being disallowed, and then Medicaid could seek to recover the money your mom gave to you. You need an attorney to look carefully at the "trust" created and see if it will be ok for you and your siblings. Hope it all works out for you.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
