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Reply to "Real estate & tax implications - elderly parent "
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[quote=Anonymous]Sell - she may need the money for her care. If she gifts it to her son and she runs out of money and needs to go on Medicaid, there is a look back period. If she has plenty of money for her care and this isn’t an issue, then son will just end up inheriting the remaining cash. She should not gift him the house now bc of the tax issues the pp’s explained earlier. [/quote]
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