Options for ill mother to sell house
My mother has become very ill and does not qualify for medicare or other assistance. She currently has the funds to cover medical expenses but they are piling up. What options does she have of selling her house without losing all the funds. Would she be able to gift a portion to her children and grandkids from the profit? If so, how much? What recourse may there be if she becomes unable to pay all her medical bills or was placed in a nursing home?
1 Answer from Attorneys
Re: Options for ill mother to sell house
Assuming she is competent, she needs to hire an attorney experienced in elder-law quickly. There are often things that can be done to preserve assets, but some need to be in place for specified amounts of time before she would apply for medical assistance (MA, a/k/a medicaid). If she is no longer competent, does she have a durable power of attorney? I she is competent, she should also consider a durable power of attorney and health-care-directive.
I do a lot of this and would be happy to speak with you. 507-345-8290.
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