Legal Question in Wills and Trusts in Texas
Disclaimer filed by Guardian and Medicaid
If you (adult child) are appointed as a Guardian for a parent in a nursing home who is mentally incompetent and on Texas Medicaid, can you file a disclaimer on behalf on that parent to disclaim heirship for an insurance policy payble to him due to the death of his eldest son. And if so, would the proceeds then go to the remaining siblings? My brother who died had no spouse, children, will or beneficiary on his life insurance policy. Remaining heirs are father, and four siblings. Note: father in nursing home and not competent but no one currently has a guardianship over him.
1 Answer from Attorneys
Re: Disclaimer filed by Guardian and Medicaid
If a person disclaims any type of inheritance or life insurance proceeds, that person has made a transfer for less than fair market value, which immediately disqualifies him or her from Medicaid benefits.
In other words, if your father (or someone on his behalf) disclaims, he will be immediately disqualified from receiving Medicaid benefits for a period of time. Of course, he will also be disqualified once he receives the proceeds, but at least he will have money to support himself until it runs out.
There may or may not be some things that can be done to help conserve some of that money - please consult with an elder law attorney.
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