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Gifting of Cash

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hildy01

Junior Member
What is the name of your state? Pennsylvania

My mother-in-law has been in a senior living facility for about the past 13 years and
now she is going to need an assisted living facility...she has 10 children...
All she has left after selling her home and living on her own is less than $20,000.00...
She may also have a life insurance policy but not that much....
Can she give the cash she has left to her children before applying for assisted living..??

I was reading somewhere she can gift up to $12,000 per year per individual..is this
correct..??

Thank-you very much..
 


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