Posted on: 05th Nov, 2010 06:56 am
My grandmother is hitting a point where my mother and aunt may consider a nursing home.
Grandma is on the title with my parents. However, the mortgage is in my parents' name. When they bought the home, this was to ensure if anything happened to them she would be legally protected to live there.
However, now we're concerned about Medicare implications if she goes into a nursing home. My mother is considering a quitclaim, but after reading around I saw that Medicare has 5-year look back period. Grandma has contributed to household expenses over the years, but for the most part it's "my parents' house."
Sooo, the questions are
Grandma is on the title with my parents. However, the mortgage is in my parents' name. When they bought the home, this was to ensure if anything happened to them she would be legally protected to live there.
However, now we're concerned about Medicare implications if she goes into a nursing home. My mother is considering a quitclaim, but after reading around I saw that Medicare has 5-year look back period. Grandma has contributed to household expenses over the years, but for the most part it's "my parents' house."
Sooo, the questions are
- If Grandma goes into a nursing home, can Medicare take the house from my parents?
- If they can, is there anything my parents can do to protect the house?
Hi Guest,
As far as I know, Medicare does not has a look back period. The look back period of 5 years comes into question if your grandmother goes for Medicaid. Your grandmother can transfer the property to your parents. I hope this will help them in saving the property from being taken away by the nursing home.
Thanks
As far as I know, Medicare does not has a look back period. The look back period of 5 years comes into question if your grandmother goes for Medicaid. Your grandmother can transfer the property to your parents. I hope this will help them in saving the property from being taken away by the nursing home.
Thanks