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John Elder
John Elder, Estate & Elder Law
Category: Estate Law
Satisfied Customers: 4631
Experience:  Over 14 years experience in Medicaid, Estates, Trust.
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My mothers in a nursing home. She owns a car and house but

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My mothers in a nursing home. She owns a car and house but she is on Medicaid. Its a lien on house because of loan taken out by her. How do i protect her assest with no will,
Submitted: 1 year ago.
Category: Estate Law
Expert:  John Elder replied 1 year ago.
Welcome! Thank you for your question.

I am sorry to hear about your mother's situation. Unfortunately, based on her circumstances there is likely no way to protect her home or car. A will has nothing to do with this situation. With or without a will Medicaid has an estate recovery program that will obtain a lien against the home and car when your mother dies to recover what they have paid for her care. A will alone does not protect her assets from estate recovery.

It may be possible to protect the house using a highly complex purchase agreement that transfers to you a small interest in the home in a legitimate sale. You would have to pay several thousand dollars to obtain this interest. However, this cannot be done if she has a loan on the property because any sale will result in the loan being immediately due and payable in full. To even have a chance to protect her house you will need to buy enough interest in the home from her to fully pay off the loan.

The only way to protect the car is to buy it from your mother at fair market value. This is either tax value or a dealer appraised value. You may find that you can get it for a good deal.

In both the home purchase and the car situation you will have to pay your mother some money. That money has to be placed in her bank account. It will likely cause her account to go over $2,000. She will loose Medicaid benefits for some time unless her account is reduced to below $2,000 in less than a week. The money can be spent on your mother to prepay funeral expenses, clothes, a TV or other personal items. An elder law attorney helping in this transaction will work out a plan for spending the money prior to completing any protection sale.

The only way to complete this type of protection is with the help of a highly skilled elder law attorney in your area. You can find one at www.naela.org.

I cannot provide you with legal advise. I have provided you with information about the law related to your question. My answer, and any information that you find online, should not take the place of having a consultation with a lawyer in your area to advise you regarding your specific issues.

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Thank you,

John

John Elder, Estate & Elder Law
Category: Estate Law
Satisfied Customers: 4631
Experience: Over 14 years experience in Medicaid, Estates, Trust.
John Elder and 7 other Estate Law Specialists are ready to help you
Customer: replied 1 year ago.
will powere of atterney help in the protection of the home. i have durable p.o.a.
Expert:  John Elder replied 1 year ago.
Powers of Attorney will help. They give you authority to prepare the sale or other transactions discussed above on her behalf before she dies so long as you can pay off the loan. However, they do not work to protect her property without the transactions I discussed above and they will terminate at her death.

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