“Information Bits from the Boss: Samantha provides brief answers to clients frequently asked questions”
What If I’ve made a transfer with outright or in trust to an individual and I don’t make it through the lookback period?
In Pennsylvania the maximum lookback period is a 5-years. You can have a shorter lookback depending on the value of the asset that you have transferred. If you transfer an asset without adequate consider, either outright or in trust, and you need care within the lookback period, that asset may be available to pay for your care. I always encourage clients to do planning with enough time to make it through the 5-year lookback. If you have additional questions, please contact our office.