Give $$$ to Brother to lower EFC

megdog
Sun, 06 Mar 2011 15:39:00 +0000

I understand the desire to protect the money. The point is, giving it away does not protect it. Lawyers sometimes advise clients to give money away, for tax or estate-planning or Medicaid planning purposes, but always with the proviso that the clients have to be willing to not get the money back. A gift is a gift. And if it’s not really a gift, the law will treat it as a loan or something else.