Posted on: 27th Nov, 2008 05:18 pm
my grandfather is deceased and my grandma is in a nursing home. my mother(p.o.a.) wants to enroll my grandma in medicaid because otherwise she's going to have to sell the family farm to pay for monthly nursing home bill. she's been told that she should have done all of this at least 5 years ago. would a quit claim deed be an option to hold onto our family land or would it not make a difference?
Hi coveyoulisa,
Medicaid has a look back period of 5 years. If a person transfers his or her assets within the 5 years prior to application for Medicaid, then the person is considered to be ineligible for the Medicaid benefits. Thus the transfer of assets will only act to disqualify the person for Medicaid benefits.
I don't think quitclaim will be a good option in this situation. Your mother can try for a ladybird deed provided if she is permitted to do so. You can check out the following link to know more:
http://www.mortgagefit.com/florida/ladybird-deed.html
Thanks
Medicaid has a look back period of 5 years. If a person transfers his or her assets within the 5 years prior to application for Medicaid, then the person is considered to be ineligible for the Medicaid benefits. Thus the transfer of assets will only act to disqualify the person for Medicaid benefits.
I don't think quitclaim will be a good option in this situation. Your mother can try for a ladybird deed provided if she is permitted to do so. You can check out the following link to know more:
http://www.mortgagefit.com/florida/ladybird-deed.html
Thanks