If someone's mother goes into an assisted living home, can they use the house to offset payments?
Question Details: Her wishes were that it go to 1 of her children but someone said there is a 3 year grace period. What if she were to sell the house to the child at less than market value?
Medical has a five year look back period for determining whether assets were transferred for less than fair market value, and can look back anytime within five years after death of the person who received medical benefits; we taxpayers should not have to pat the medical bill if there are assets available. The children are not entitled to an inheritance; your mother's assets are for her care.