Full question:
My older sister and I have lived together for 20+ years. We use the same checking account. Our home was originally purchased by my sister but a few years ago we had it put in my name as well. Her only income is from Social Security. She has no savings or any source of income. I am a school teacher and also receive $800 monthly for past child support. My sister now needs to be in a nursing home. Will Medicaid require that we sell our home?
- Category: Medicaid
- Date:
- State: Texas
Answer:
When applying for Medicaid to cover nursing home care, there is a 60-month look-back period to check for asset transfers made for less than fair market value. If you transferred your home to your name with the intent of qualifying for Medicaid, it might be viewed as a fraudulent transfer. This could lead to disqualification from assistance for a period based on the value of the transferred asset.
In general, Medicaid does not require the sale of your home if certain conditions are met. For example, if your sister is the primary resident and has an equity interest in the home of $500,000 or less (or $750,000 in some cases), it may not count as a resource for Medicaid eligibility. Additionally, if a sibling has lived in the home for at least one year prior to institutionalization, it may also be exempt.
However, if there are no exemptions that apply and the home is considered a countable resource, Medicaid may require its sale to cover nursing home costs. It's important to consult with a legal expert who can provide guidance based on your specific situation and state regulations.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.