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Ray, Lawyer
Category: Legal
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Experience:  30 years in civil, probate, real estate, elder law
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My Mother -in-law sons want to buy her camp for a very small

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My Mother -in-law sons want to buy her camp for a very small amount. She is 83 and will be living with me. If something should happen to her requiring her to be put in a nursing home how will this affect me finantially.

Thanks Paul
Hello friend. My name is XXXXX XXXXX welcome to JustAnswer. Please note: (1) this is general information only, not legal advice, and, (2) there may be a slight delay between your follow ups and my replies.

By "camp," what do you mean, exactly? A camper, i.e. a vehicle/trailer? Is it in her name?

Also, is there current financing, or does she own it outright?

This is not an answer, but an Information Request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.
Customer: replied 4 years ago.

A "camp" is a summer cottage she owns outright the value at most would be about 25 thousand. They want to buy it for 3 thousand. My concern is that she would lose the ability to get Medicaid if put in a nursing home.


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My apologies for any inconvenience and good luck...

Thanks for your question and good morning.You are correct that this is considered a transfer of assets.Medicaid has a five year look back on such transactions.So here she may be disqualified for a sale below market value.

What she would do here assuming she wants to keep her eligibility is to finance a sale for fair market value maing sure the note here cannot be resold by including such language.She needs alave have a NAELA lawyer do the transaction, they have exepertise in medicaid and such sales to avoid any medicaid penalties.

Otherwise a sale as you described would render her ineligible under the medicaid look back rules for Maine.

It has been my pleasure to assist you today.Please let me know if you have more follow up.Thanks again.

Reference to the law. .com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&ved=0CD4QFjAC& %2Fdefault%2Ffiles%2FThe%2520Tricky%2520MaineCare%2520Transfer%2520Penalty.PDF&ei=bGLpUZ-JJY689gT1uYGgAQ&usg=AFQjCNFjcvFcpYyQm5k4gDwWCpssl1gV4w&bvm=bv.49478099,d.eWU

You can locate a NAELA lawyer here..



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Ray, Lawyer
Category: Legal
Satisfied Customers: 40996
Experience: 30 years in civil, probate, real estate, elder law
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