• Question
  • irrevocable trusts -- look back perod and medicaid benefits

    Asked on 2/23/2009

    What is the look back period for transfer of assests in Illinois in the case of an irrevocable trust when applying for medicade benefits.
    The trust was established prior to the new 2006 Medicade rules (DRA)

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  • Categories: Medicaid, Retirement Planning, Health Care and Health Insurance, Estate Planning

Answers

  • NewRetirement User

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  • This question is probably best answered by the Medicaid office closest to you in Illinois.

    This URL might be helpful to you: http://www.hfs.illinois.gov/medical/

  • Login to rate this answer:   Answered on 3/19/2009
  • NewRetirement User

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  • While the 2005 DRA changed the lookback from 3 years to 5 years for most transfers made on or after 2/8/06, the lookback period for irrevocable trusts in which the grantor may never benefit from has been 5 years since 8/10/93 (Obra '93).

  • Login to rate this answer:   Answered on 2/21/2010
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.