Posted on: 18th Jan, 2009 06:49 am
My uncle is now on medicaid. After he qualified, we put a lady bird deed in place to 'protect the assets.'
he now thinks he wants to sell the home. Will he/we be penalized and or will the govt take his monies if he sells..what will happen? is it better to not sell the property and also should he have this property in his name only without the lady bird deed? please advise.
he now thinks he wants to sell the home. Will he/we be penalized and or will the govt take his monies if he sells..what will happen? is it better to not sell the property and also should he have this property in his name only without the lady bird deed? please advise.
Hi mediatedisputes!
Welcome to forums!
A lady bird deed does not make a person in-eligible for the medicaid if he expresses his/her intent to return to the property after being taken to nursing home. Even if he doesn't return, he can get the medicaid facility if his spouse or a relative occupies the property. But if your uncle sells the property, I don't think he will remain eligible to get the medicaid facility.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
A lady bird deed does not make a person in-eligible for the medicaid if he expresses his/her intent to return to the property after being taken to nursing home. Even if he doesn't return, he can get the medicaid facility if his spouse or a relative occupies the property. But if your uncle sells the property, I don't think he will remain eligible to get the medicaid facility.
Feel free to ask if you have further queries.
Sussane
My uncle has expressed that he may want to undo the lady bird and sell his property and get a smaller place. Will he lose the home when he sells it if no lady bird in place?(IE:will medicaid take the property to pay for nursing care they paid?) Also he only get 100 a month in SS, so sadly he can't live on his own means.
Hey delana,
As far as I know, if he sells off the property he may not be considered eligible to get Medicaid benefits.
As far as I know, if he sells off the property he may not be considered eligible to get Medicaid benefits.