Q. My son, Bryan, is entering middle school. His grandfather (my dad) is coming for a barbecue for Father’s Day this weekend, and we are also celebrating Bryan’s birthday. My dad has been contributing to a 529 plan to help pay for … [Read more...]
Print This PageGrandparents and Others can Contribute More to 529 Plans without Affecting College Financial Aid
June 17, 2022 by
The Ins and Outs of Reverse Gifting
May 20, 2022 by
Q. My daughter started her own business and made some good investments with her money, and became very successful. She recently told me that she wanted to transfer assets to my name to assist me with my living expenses, but she … [Read more...]
Print This PageGiving Gifts to Grandchildren Without Wrecking Your Own Financial Future or Creating a Sense of Entitlement
July 16, 2021 by
Q. I have six grandchildren -- three from each of our two daughters. They live close by so I see them often and adore every one of them. I am not getting any younger and have some money I’d like to gift to them now, while I am … [Read more...]
Print This PageGifting and the 2018 Gift and Estate Tax Exclusion Numbers
December 1, 2017 by
Q. Our daughter got married a few months ago and she and her husband found the perfect starter home in Springfield. The owners accepted their offer and my daughter and her husband asked me for $20,000 to help with the down … [Read more...]
Print This PageCharitable Giving: The Risks of Generosity
December 30, 2016 by
Q. My granddaughter, Abigail, recently got married and my husband and I would like to give her a gift of $14,000 before the end of the year to put towards a down payment on their first home. To be fair, we also want to give the … [Read more...]
Print This PageWill Christmas Gifts Disqualify Grandma?
December 18, 2015 by
Q. My grandmother is really excited about Christmas this year. In the spirit of the season, she is considering making a truly meaningful gift of $5,000 to the local animal shelter, and giving another $5,000 to her church. She also … [Read more...]
Print This PageGiving Money to Your Children (while you’re still alive)
October 6, 2015 by
Janet's granddaughter, Grace, recently got accepted to veterinary school. Janet is thrilled at this huge accomplishment, and would like to give Grace a gift of $40,000 ($10,000 a year), to help her pay for school, so she wouldn't … [Read more...]
Print This PageInformal Home Care Could Result in Medicaid Ineligibility
April 8, 2015 by
Betty Jensen was an elderly woman with dementia, who resided in her home in Muskegon, Michigan. In May 2011, when she needed assistance, her concerned grandson, Jason, acted on her behalf and hired a non-relative, Teresa … [Read more...]
Print This PageThose who are aware of Medicaid, but misinformed and confused
August 25, 2011 by
If you are confused or mistaken about the rules of gifting in the context of Medicaid qualification, you likely won't ever venture into the practice of Medicaid Asset Protection. If you do practice Medicaid Asset Protection, … [Read more...]
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