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augie_wartooth t1_jddfuqa wrote

Can I ask why she is doing this? If it’s for Medicaid purposes, one car is exempt from the asset limit, and I think there is a 5 year lookback period on transferred assets.

Edited for clarity

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ssgonzalez11 OP t1_jddg3ef wrote

I appreciate you asking!

She’s had a brain injury and will likely not be able to drive again. She’s kept the car for about 4 years hoping that her abilities would change but they’ve gotten worse with time. She’d like to gift it to her partner as cheaply as possible.

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augie_wartooth t1_jddh3c0 wrote

One other thought I just had is she could contact the Virginia Lawyer Referral Service and talk to a lawyer. It’s $35 for a 30 minute consultation, and might help her figure out how to make it work.

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ssgonzalez11 OP t1_jddh9x9 wrote

Ok that’s awesome! Thanks. I don’t know if she’s considered that.

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augie_wartooth t1_jddgklc wrote

Gotcha. I’m sorry to hear what she’s going through. I wonder if she could sell it to her partner for an amount he can get together and then basically just return the money in exchange for something else. I have no idea of legality of this but just a thought.

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ssgonzalez11 OP t1_jddgwbm wrote

Thanks. We have considered that, but it looks like the tax cost would be the same and we think it will be best to just gift it and pay the taxes but I was hoping someone knew the ins and outs better. It’s hard relearning a whole new state and it’s intricacies.

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