Can My Mother-in-Law Sell Her House and Buy a New House with Us Without Affecting Her Medicaid Eligibility?
My husband and I are planning on selling both our house and my...Read more
The answer is that your mother can transfer her ownership in one property to another. She would have to use all of the proceeds if she wants to retain current eligibility for Medicaid. If your concern is for her future eligibility, then she would simply have to spend down any funds she retained before becoming eligible for benefits. Your mother's interest in the new property must reflect the amount she pays in. Your mother should not have to pay back for any benefits she may have received in the past when she sells her current house and the joint ownership with you in the new house should be able to be structured so as not to be subject to recovery by Medicaid upon her death. All of that said, this will only work if properly structured. Don't move ahead without consulting with a local elder law attorney.
Local Elder Law Attorneys in Ashburn, VA
Bill founded The Estate Planning & Elder Law Firm, P.C. in 1994. Bill limits his practice to the areas of estate planning and administration, incapacity planning, Medicaid, asset protection planning, and elder law. He is one of (15) fifteen attorneys practicing in Virginia, Maryland and the District of Columbia, ce...
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Medicaid Rules, etc