Monthly Archives December 2020

Gifting During the Holidays

Happy Holidays from Pruitt Law Offices! During the Holiday season, I often have clients come in and ask if they can make larger gifts of monies to their loved ones. These clients often are concerned about the potential Medicaid and tax ramifications of these gifts. If the clients are in relatively good health, it is perfectly acceptable to make larger gifts; however, if the client needs institutional care within five years of the gift, the recipient should be ready, if necessary, to return (cure) the gift.  If the gift is greater than $15,000 to a single individual in a year,
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