If my mom needs a nursing home soon and I am half owner of her home, will Medicaid pay for her care?

Get Legal Help Today

secured lock Secured with SHA-256 Encryption

If my mom needs a nursing home soon and I am half owner of her home, will Medicaid pay for her care?

Mom will soon need a nursing home. Mom added my name to the deed 2 1/2 years ago. Just she and I are on the deed. I do not reside in the home. There is no mortgage. Will Medicaid want 1/2 of what moms home is worth before they will pay for her care? Or can we get a life estate deed now, or I can buy the home for 3K, (that’s all I have). The home is only worth 25K and she gets SSI of only $674 a month. She is also blind and is on Medicare and Medicaid for medical care.

Asked on January 9, 2012 under Estate Planning, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you aleady own a portion of the property that your mother resides in, under Internal Revenue Service regulations, your mother can "gift" you $13,000 per year tax free. If the home is worth $25,000 presently and you own an interest in it already, there is a good chance that your mother can "gift" you a percentage in the home via a deed equal to $13,000.

In order to transact the above, I suggest that your mother and you consult with a real estate attorney as to the best way to do the transfer.

As to the Medicaid payment for your mother's care, if she does not have any ownership interest in the home that you are writing about and has coverage for her care, I do not see an issue that Medicaid will not cover some if not all of her monthly needs depending upon the terms of her insurance coverage.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption