How Do I delete this from incorrect forum?

MSC105

My mom lives with me and has dementia. She needs assisted living and help with finances. Where do I start?
She owns a home in South Carolina that I don’t want to sell, but may be my only option. Is there a way to protect the house? I believe she would qualify for Medicaid. Should I put the house in my name?

MSC105

H1235

You should see an elder law attorney. You will need a durable power of attorney! Very important. The lawyer can also help with financial planning. In my state mom was able to get a ladybird deed that automatically puts the house in my brother and my name when she passes. This prevents Medicaid estate recovery. I don’t think this is an option in all states. We were also advised to do a prepaid funeral. As far as just putting the house in your name, NO! That would be considered a gift from your mom to you and that is a big no no that could disqualify her from getting Medicaid. The qualification for Medicaid and what is actually covered varies by state. I attached something that may help. In my state Medicaid will only pay a portion of assisted living, leaving family to cover the rest. Nursing homes are covered, but al or mc are usually much nicer. With that in mind you may need to sell the house to cover al or mc anyway. It all depend on your state. Al and mc can also have a waiting list so plan ahead. This is all very complicated. I would suggest you learn as much as you can before you see the lawyer. You want to go in prepared with questions and a basic understanding of what to expect. The links don’t always work well sorry.

https://www.medicaidplanningassistance.org/state-specific-medicaid-eligibility/

harshedbuzz

@MSC105

You need to see an elder law attorney asap.

Normally, your mom's assets are meant to be available to fund her care. There are some strategies to shelter assets but often they need to be done prior to the Medicaid 5-year-lookback. There are some circumstances like a living spouse or adult child who has lived in the home for 2+ years providing a level of care that kept them from needing Medicaid that are allowed.

My parents had 2 properties when dad was diagnosed with dementia. One house was sheltered so long as mom was alive and living there as a community spouse with the expectation that Medicaid would seek reimbursement for his care after her death. She would have been able to keep the other home as an income-producing property so long as she could use the money along with his social security and SEP/IRA to fund his care. This may or may not be an option for you.

In my state, Medicaid only funds SNFs and a PWD would need that level of care to qualify.

HB