"Half-a-Loaf" Medicaid Planning

by Gabriel Heiser

Question:


My inlaws are in a nursing home and did not sign the
house over to my husband before they went in. They are wanting to sign it over to him but are being told they can be kicked out of the nursing home if they do. How can my husband and inlaws get this taken care of without risking their care?

Answer:

In most cases, if a person on Medicaid transfer their house to a child this will cause the imposition of a very long penalty period (i.e., period of months or years when Medicaid will NOT cover the nursing home bills of the parent). Accordingly, they are advised retain the house and see if there are exceptions that will allow them to transfer the house without penalty, or, if that is not possible, sell the house and do “half-a-loaf” Medicaid planning. This type of planning will at least save a good portion of the house proceeds from having to be spent on nursing home care.

Since this is a complicated topic, I suggest you review the chapters in my book that discuss this, along with a number of helpful examples.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Medicaid Questions.

Subscribe to
Estate Planning Hub


Your First Name


Your E-mail Address

We keep this private.



Follow the Estate Planning Blog.




--by Beth Heikkinen
Marquette, Michigan
I just want to thank you for this site. It answered my questions. I think many people that do research on the net take it for granted and when they find what they are looking for they forget "someone put time, money, etc into providing me with this information."

Thank you!


Like This Site





Visit Our Social Media Pages

Become a Fan of Estate Planning Hub on Facebook Follow EstatePlanningHub on Twitter Follow EstatePlanningHub on Google+ Subscribe EstatePlanningHub Video on YouTube

Get a PDF version of this website and its sister site here.