Do I have to give vehicle back or fair market value to step grand daughter

Get Legal Help Today

 Secured with SHA-256 Encryption

Do I have to give vehicle back or fair market value to step grand daughter

My father n law gave my husband his
1994 f150 on 10/24 . It is now titled
in our name. He passed on 12/8. His
wife was put in nursing home and step
grand daughter is in charge of
grandmothers estate and is demanding we
bring truck back for her to sell to
deplete grandmother assets. Truck was
titled to father n law OR step mother n
law. Do we have to give truck back or
money?

Asked on December 14, 2016 under Estate Planning, Mississippi

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

You don't necessarily have to give it to the step-granddaughter, but if the state (i.e. medicaid) seeks to get it to pay for her care, you'd have to give it up then. Medicaid can "look back" up to 5 years after someone applies for Medicaid to pay for a nursing home and undo ("vacate" or "void") any transactions or transfers which were not for fair market value--such as the gift of a truck to family. (If you paid him fair market value for it, they cannot due this.) They have the ability to do this to prevent people from sheltering or hiding assets by placing them with friends or family, thereby forcing the taxpayers to pay more than they should. Even if the truck was titled to him, since he died before her, it would have come to her and been an asset available to be sold for her care.


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 with SHA-256 Encryption