Excel Worksheet to Estimate Gifting with Promissory Note

Gifting is usually a last resort when creating a Medicaid Plan. The reason is gifts trigger a transfer of resources penalty. The Medicaid Transfer Penalty Worksheet can be used to calculate the penalty, but an additional worksheet is helpful when calculating the amount of income a Medicaid applicant must generate to private pay through the penalty period. An example of that worksheet is below. Keep in mind, this worksheet “estimates” the terms of a promissory note used to pay through the penalty period. Also, use of this worksheet is not a substitute for securing qualified legal counsel.

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