Medicaid 5-Year Look back & Putting Your House in Your Kids’ Names

Families with parents age 70+ (or adult children helping them) who are considering **transferring a home to children** because of health concerns and potential long-term care costs.Avoids expensive mistakes when you “add the kids to the house” or gift assets without understanding **Medicaid rules, debt liability, and the 5-year lookback**.Nursing home costs can run as high as $10,000–$ 12,000 per month, and decisions made today can have major consequences later—especially if care is needed within the next five years.In this episode, Brad and Matt unpack a real-world question: a 70+ parent wants to transfer their house into the children’s names. Sounds simple—but it can create hidden issues: who carries the mortgage debt, who’s responsible for repairs and taxes, and what happens if long-term care becomes necessary.Brad explains why the first step is identifying the **true “why”** (often: “We don’t want the house consumed by care costs”). From there, he walks through the **Medicaid 5-year lookback** concept and why gifting assets (cash or property) can trigger a clawback-style problem later if parents need Medicaid and don’t have enough resources left “on paper.”Bottom line: this isn’t a DIY decision. Brad emphasizes working with a **trusted elder-law / Medicaid-planning attorney**, because the right strategy depends on the full picture—assets, debts, health timeline, and family dynamics.Medicaid 5 year lookback, transferring house to children, elder law attorney, Medicaid planning Minnesota, long-term care costs, nursing home cost, asset gifting rules, estate planning basics, house title transfer, iWealth, Brad Connors---**iWealth****SUBSCRIBE**Education is first! At iWealth we pride ourselves on helping people make smart decisions when it comes to money. You know how to make money, but do you know how to keep it? Invest it? Manage it so that it works for you? iWealth provides practical thinking tools and structures which will help you attain your biggest goals and enjoy an unparalleled quality of life.►Please take a moment to comment and let us know what you thought of this video. Want to learn more about how iWealth can help you feel confident about your financial future? Schedule a complementary 30-minute discovery call to get clear on your financial goals, what might be standing in your way, and if iWealth is a good fit for you. Click here to book your call today: [https://go.oncehub.com/BradConnors](https://go.oncehub.com/BradConnors)►For more educational tips and wisdom from iWealth:YouTube: [https://www.youtube.com/user/iWealthTV/videos](https://www.youtube.com/user/iWealthTV/videos)Facebook: [https://www.facebook.com/iWealth4me](https://www.facebook.com/iWealth4me)LinkedIn: [https://www.linkedin.com/in/bradconnors/](https://www.linkedin.com/in/bradconnors/)Podcast: [https://anchor.fm/iwealth](https://anchor.fm/iwealth)Twitter: [https://twitter.com/iWealth4me](https://twitter.com/iWealth4me)Book: [https://fishdontclap.com/#home](https://fishdontclap.com/#home)