My mother died in april 2010, and my father has cancer and has been in a nursing home since nov 09 he was approved for medicaid in feb 10.My parents have a house that my brother lives in.We wanted to know if there is anything we can do to protect the house.He gets ssi and 2 small retriements which goes to the nursing home.Can we quit deed the home? They have a will leaving the house to me and my brother but I dont think it will matter.He would like to buy me out the house needs some major work .We know the house is my father's but it is killing us making the payments on it and my brother can get a new and lower rate on the loan.
Thank you
2 Answers from Attorneys
If your father transfers title to the house for less than fair market value, then that will be considered a "disqualified" transfer by Medicaid and likely will trigger his loss of Medicaid benefits, up to the value of the house.
I do not recommend transferring the house now. It appears as though your father is very ill and does not have too long to live. You do not say how much mortgage is on the house. Tenncare will file a claim agains either or both of your parents estates to have nursing home costs repaid. I am sorry I cannot give you more encouraging advice.
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