It is expected that on February 1, 2006, President Bush will sign a bill drastically changing medicaid planning. Many things will change including:
1. 36 month look-back period extended to 60 months;
2. The start of the penalty period is no longer the date of the gift;
3. Recordkeeping requirements for gifts;
4. Homes over $500,000.00 in value will not be exempt.
Here is a good summary of the proposed changes.