Revocable Trust and Medicaid

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Revocable Trust and Medicaid Expand / Collapse
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Posted 9/24/2008 10:13:21 PM
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Well, we tried to foresee the future and placed all of my 93 year old grandmother's assets in a revocable trust (including her home) with my mother and myself as beneficiaries back when she was 80.  She was listed as the trustee because at the time, she was in perfect health and no one anticipated her needing to go to a nursing home.

I have made an appointment this week with an elder care attorney and he explained that the home would have been transferable had we not placed it into the trust since my mom has lived with her the past several years taking care of her.  But since grandmother is the trustee, it will more than likely not be transferable.  Is there anything I can do?   Not only will I have a grandmother who is not doing well with the idea of a nursing home but I will also have a homeless mother who has just turned 66.  Grandmother is currently in the hospital (already in her 7th day of the 20 medicare is allowing) and they want her in a nursing home by this Friday.  I feel like we have really painted ourselves into a corner with only the window to throw ourselves out of.  Anyone with knowledge of this type of situation is greatly appreciated. 

Post #147
Posted 9/25/2008 9:42:08 PM
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I spoke to my elder care attorney today regarding the home that is in the trust.  Since my mother has lived with my grandmother for > 2 years caring for her, we will be able to transfer the home out of the trust and into both of their names, therefore it wouldn't be considered something to be spent down.  (He said it much more eloquently).  Upon her passing, (grandmother) the home can be transferred back into the trust to avoid probate.  He said that there is a chance medicaid would enforce a lein on the property, but he saw cases where that was not the outcome (no promises though).  Possibly they would take into consideration that she has spent over 10 years in the home caring for her as well.  But that does allow my mother to stay there.  Just wanted to post what I found out since so many had viewed the question. 
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