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

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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 12 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.


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