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Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 11587
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I live in a house owned by my girlfriend who has become a

Customer Question

I live in a house owned by my girlfriend who has become a resident of a nursing home and will not be returning to this address. Her long-term care insurance will run out in approximately four years and she will be obliged to apply for medicaid at that time. It is my understanding that at that time she will be required to sell her property. Can we make arrangements that would allow me to continue to live here? I am designated to inherit this house in her will.
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.

I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986.

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I'm so sorry, but the look-back period for any sort of transfer is five years.

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Life estate, outright transfers, anything that changes ownership, could put her eligibility in jeopardy.

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The two most likely outcomes would be pushing back her eligibility by the amount of time that the house sale would have paid OR the estate being subject to medicaid fraud recovery after she passes.

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The one thing that MAY work, depending on the aggressiveness of the state agency that administers this federal law in your state is to be married.

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Medicaid recipient's home is exempt (some states limit this to a particular amount, such as $500,000,) but only if

  • the applicant is likely to return home or
  • one of the following individuals continues to live in the home:
    • the applicant's spouse
    • a child under age 21
    • a child over age 21 who is disabled
    • a brother or sister who owns part of the house and has resided there for at least one year

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I would check with an eldercare lawyer in YOUR state to see whether the current practice is to look back at marriage dates

Expert:  Lane replied 1 year ago.

Please let me know what questions you have from here

Expert:  Lane replied 1 year ago.

Hi,

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I’m just checking back in to see how things are going.

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Did my answer help?

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Let me know…

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Thanks

Lane