Legal Question in Real Estate Law in Colorado
Real Estate and qualifying for medicaid
My father has suffered a stroke and needs assisted living. He has no pension, no 401k, and less than 2000 in his bank account. He needs medicaid assistance to enter assisted living. The only assest he has is his condo. How do we sell it to help him pay off debt and still qualify for medicaid benefits?
1 Answer from Attorneys
Medicaid
Louise Aron
Attorney at Law
Lakewood Office:
1536 South Ingalls
Lakewood, Colorado 80232 USA
(303) 922 7687
fax (303) 922-1370
Cherry Creek Office:
300 South Jackson #100
Denver, Colorado 80209 USA
(303) 780-7339
Satellite offices:
Boulder - 4450 Arapahoe Avenue, #100
DTC - 4610 South Ulster, #150
A TOLL FREE NUMBER is available to clients outside the Denver metro area.
web site http://effectnet.com/la/
email [email protected]
LawGuru User
Dear LawGuru User:
I would need to know more including the amount of debt and the value of the condominium in order to fully answer your question.
As you know, Medicaid is intended only for the truly indigent.
Medicaid penalizes certain transactions which occur within 36 months of the date Medicaid is applied for.
If your father is truly indigent, I suggest that you contact Medicaid and ask them what would be the best way to handle his assets without incurring a penalty. If your father is not indigent, I highly recommend that you discuss this matter with an attorney.
Thank you for contacting LawGuru.
Sincerely,
Louise Aron
Attorney at Law
web site http://effectnet.com/la/
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
