You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.
Can Special Needs Trusts Reimburse Family Members for Travel Expenses?
Families of people with special needs often face unusually high travel expenses. Family members may be able to be reimbursed for these expenses from a special needs trust, depending on the type of trust.
After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. Very few taxpayers will have to pay a gift tax in any case.