Elder Law Answers
Can My Mother Gift Her House to Me to Repay a Debt Without Jeopardizing Medicaid Benefits?
My mother has had financial issues for the past nine years. Over the course of that time, I have: loaned her money (that h...
Read moreCan My Mother Sell Her House and Buy a New House with Me and Still Be Eligible for Medicaid?
- August 27th, 2013
Q
I am hoping to buy a home and use some of the funds from the equity of my mother's home as down payment My mother would also live there and have her name on title. My question is this: Can she still receive Medicaid coverage and do the full funds of the home need to be transferred into a new primary residence for her? Also, will Medicaid try to recover the medical funds that have been used for her when her house is sold or upon her death?
A
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
Meet Evan Farr
(703) *** ****
Learn more
Evan Farr
The Law Firm of Evan H. Farr, P.C.
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
(703) *** ****
Tell us about your legal issue and we will put you in touch with Evan Farr.
Meet Margaret O'Reilly
(703) *** ****
Learn more
Margaret O'Reilly
Margaret A. O'Reilly, PC
Margaret A. O’Reilly is an estate planning and elder law attorney with over thirty-five years of legal experience. Attorney O’Reilly graduated from Duke University with a degree in psychology, and received her law degree from Northeastern University School of Law in Boston, Massachusetts. For over 15 y...
(703) *** ****
Tell us about your legal issue and we will put you in touch with Margaret O'Reilly.
Meet Loretta Williams
(703) *** ****
Learn more
Loretta Williams
Hale Ball Carlson Baumgartner Murphy PLC
Loretta Morris Williams is a certified elder law attorney by the National Elder Law Foundation. Ms. Williams was admitted to the Council of Advanced Practitioners, National Academy of Elder Law Attorneys (NAELA) in 2012. She serves as President of the Virginia Academy of Elder Law Attorneys. Ms. Willia...
(703) *** ****
Tell us about your legal issue and we will put you in touch with Loretta Williams.
