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My mother is being admitted into a nursery home facility.

Customer Question
She owns her own home...
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
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Answered in 8 minutes by:
3/10/2016
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 13,220
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

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.

...

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Financial Professional: Lane, JD, CFP, MBA, CRPS 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

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Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

Hi,

...

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

...

Did my answer help?

...

Let me know…

...

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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 13,220
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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