How Do You Determine the Cost Basis of an Inherited Property If There Was No Appraisal?

If a property appraisal was never obtained when a parent died (2016), how can we determine the cost basis in order to calculate the capital gains taxes? Four siblings inherited the home and plan to sell it.

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Is There Any Downside to Bringing a Medicaid Recipient Home From a Nursing Home?

My mother has been receiving Medicaid in a nursing home for four years. Now we want to bring her home (to her daughter's) for the remainder of her days. What is the disadvantage in doing so?

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Can a Mother Transfer Her IRA to Her Disabled Son Before She Applies for Medicaid?

My mother-in-law has an IRA. She is applying for Medicaid and moving to an assisted living facility. My husband is permanently disabled, and I have read that it is okay to transfer assets to a disabled child. Can she liquidate the IRA and then give it to my husband? Does my mother-in-law have to report the IRA as incom...

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Do I Have to Account to My Mother's Nursing Home for How I Spend Her $60 Allotment From Her Social Security Check?

After my mother has been living in a nursing home for a year, the nursing home just asked me to provide receipts for how I spend my mother's $60 a month allotment from her Social Security check. They say it has always been a government requirement. I am her guardian and have never heard of this in the state of Texa...

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How Long Does It Take for An Estate to Be Settled?

My estranged father passed away in November 2016. I am still waiting for the estate to be settled. How long does this generally take?

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How Can My Parents Protect Their Savings When They Apply for Medicaid?

When they were working, my parents saved $50,000 for any major health expense they might have. Currently they live with me and only receive Social Security, which is not enough for them to live on their own. I would like to apply for Medicaid on their behalf so they can get some extra help. How can I protect their savi...

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Can a Medicaid Recipient Keep Secondary Insurance?

Where do I go to find something about retaining secondary health insurance while a senior citizen is in a nursing home? Medicaid wants the money that we pay monthly for my 86-year-old mother-in-law's secondary insurance. The elder law attorney told us that we could keep that insurance policy in effect. I need somet...

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Can We Have a Medicaid Lien Removed From My Father's House if He Returned Home Before He Died?

A Medicaid lien was never removed from my father’s house after he returned home from a rehab/nursing home facility in N.Y. Now since his passing, in trying to sell the house the lien shows up. Anything we can do?

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Are Payments to Third Parties Subject to the Five-Year Look-Back Period When Applying for Medicaid?

Are payments to third parties subject to Medicaid’s five-year look-back rule? If I purchase item(s) for my child, but make the check out to a third party (i.e., check paid to retailer for appliances, to firm for landscaping services, to roofing company for new roof, etc.), are these also subject to the five-year...

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Do I Need to Cash In My Annuities if I Go Into a Nursing Home?

I have two annuities. If my wife or I need to go into a nursing home, would we have to cash in the annuities to apply toward nursing home expenses? I have been told that, because the annuities are considered insurance policies, we would not need to cash them in for nursing home expenses. Please clarify for us. Thank yo...

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