How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 11577
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
1929974
Type Your Finance Question Here...
Lane is online now
A new question is answered every 9 seconds

My mother is being admitted into a nursery home facility.

Customer Question

My mother is being admitted into a nursery home facility. She owns her own home that is paid for. My father is deceased and owns half of the house. We never did a succession on him. Will the state put on a lien on her home because she will be eligible for Medicaid next month. We have to use the funds she has to pay for this month. Her house is over 50 years old and is valued at less then $80,000. If they do put a lien and are taking the house. Are still obligated to pay for insurance and maintenance with our funds?
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.

Hi,

...

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.

...

No, there's no downside for paying for the insurance, property tax, maintenance (if you have no desire to sell the property or use it).

...

And yes, they WILL likely put a lien on the home to protect their interest, in the event that someone tried to sell and use the proceeds for something other than spend-down for medicaid eligibility.

...

SO, given your situation, there's NO reason to continue the payments from YOUR funds. Not doing so is a good strategy at this point.

...

Expert:  Lane replied 1 year ago.

Please let me know if you have any questions at all.

...

If this HAS helped, and you DON’T have other questions … I'd really appreciate a positive rating (using the rating request, faces, or stars on your screen)

...

That's the only way I'll be credited for the work here.

...

Thank you!

Lane

Expert:  Lane replied 1 year ago.

Hi,

...

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

...

Did my answer help?

...

Let me know…

...