How Will a Back Payment From the VA Affect a Nursing Home Resident's Medicaid Benefits?
A family member in a nursing home has Medicaid pending. He was clearly qualified, but last week he became eligible for ser...
Read moreWe cannot comment on how Wisconsin will apply the law, but in most instances your mother cannot gift any of her share of the proceeds of the house sale. (Exceptions would include gifts to any of her children who may be disabled or into trust for the sole benefit of anyone who is disabled and under age 65.) On the other hand, your mother can spend her funds for her own benefit. This can include prepaying for her funeral if she has not already done so and prepaying her taxes. She can pay the IRS and the Wisconsin tax authorities an estimate of what she will owe for the sale of the house. But she can only pay for her share, not for any taxes that may be due on capital gain attributable to her children. An accountant should be able to advise on this.
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For more on the rules for spending down assets to qualify for Medicaid, click here and here.
A family member in a nursing home has Medicaid pending. He was clearly qualified, but last week he became eligible for ser...
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What happens if a Medicaid recipient in a nursing home marries a healthy bride? Is the new spouse entitled to any of the n...
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Immediate annuities can be a useful tool to protect the spouse of a nursing home resident who applies for Medicaid.
Read moreMedicaid Rules, etc