Ralph Robbins
Certified Financial Planner
Ralph S. Robbins, CFP©, is a licensed Certified Financial Planning Practitioner and an Accredited VA Claims Agent specializing in Eldercare Financial Planning. He works everyday helping families in crisis find creative ways to fund long-term care expenses and deal with family financial issues.
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Question
Can survivors be liable for condo fees in a reverse mortgage situation?
When you "gifted" the home to your mother the home was probably then titled in the name of a revocable living trust with you as... When you "gifted" the home to your mother the home was probably then titled in the name of a revocable living trust with you as beneficiary or you quit claimed the property via an enhanced life estate giving her rights to the property during her life time with the property reverting to you at her demise. There is no such thing as a "living trust deed".
Whatever the arrangement, it had to have been terminated for the reverse mortgage would not have been written with you in anyway attached to the property as doing so would have violated the terms of same (you weren't living there and I'm going to assume you were under the age of 62).
Therefore, although you may have been a beneficiary of the property, you had no ownership at her demise.
As beneficiary, you would be entitled to any residual after all other claims, including the reverse mortgage, have settled.
The terms of a reverse mortgage require the homeowner to pay all fees related to the property. If they were left unpaid, then the claim would be against the property owner at the time the fees were incurred or the estate thereof.
I would surmise that the letter you received is against the estate, not you personally. see more
Whatever the arrangement, it had to have been terminated for the reverse mortgage would not have been written with you in anyway attached to the property as doing so would have violated the terms of same (you weren't living there and I'm going to assume you were under the age of 62).
Therefore, although you may have been a beneficiary of the property, you had no ownership at her demise.
As beneficiary, you would be entitled to any residual after all other claims, including the reverse mortgage, have settled.
The terms of a reverse mortgage require the homeowner to pay all fees related to the property. If they were left unpaid, then the claim would be against the property owner at the time the fees were incurred or the estate thereof.
I would surmise that the letter you received is against the estate, not you personally. see more
Question
Will Veterans' Aid and Attendance benefits help pay for adult daycare?
If paid by the person receiving care, adult day care and assisted living fees are deductible as a medical expense to the extent that... If paid by the person receiving care, adult day care and assisted living fees are deductible as a medical expense to the extent that actual, non-reimbursed expenses exceed 7.5% of adjusted gross income. see more
Question
Will Veterans' Aid and Attendance benefits help pay for adult daycare?
The VA Aid and Attendance Improved Pension is provided to assist veterans with unreimbursed medical expenses including the cost of home... The VA Aid and Attendance Improved Pension is provided to assist veterans with unreimbursed medical expenses including the cost of home care, assisted living facilities, nursing homes and adult day care.
There are actually three levels of Pension a veteran or surviving spouse may be eligible for: Basic, Housebound, and Aid and Attendance (the highest award). Whereas receiving Housebound and Aid and Attendance is predicated on the claimant having "unreimbursed medical expenses" only the amount that is received as "Basic" pension ($1,037 per month in 2013 for a single veteran) can be used for other than medical expenses such as home repair that is necessary for the health, maintenance, or welfare of the claimant.
Military separation documents are obtained from the National Archives. Here is the web address to download the requisite form:
http://www.archives.gov/veterans/military-service-records/standard-form-180.html
Before you take the advice of hiring an expensive elder law attorney or private firm to assist you, contact a County Veteran Service Officer (CVSO) who will look at your case for no charge. You can find a CVSO here:
http://nacvso.org/
Your initial goal is to make sure that your father qualifies from both a health and financial perspective. Do not let an application be filed until you are sure it will be approved. A good CVSO will help you make that determination. If over-resourced from an asset perspective you may wish to consult a professional on the best way to cure this problem.
Your second goal is to make sure you have all of the documentation required on the front end. What most often causes delays is an incomplete application or improper or insufficient evidence to substantiate the claim (income and expense documentation in particular).
The VA now has an expedited program for applications that are thorough and COMPLETE. Contacting a congressmen or senator before you have even filed an application will just make everyone angry. see more
There are actually three levels of Pension a veteran or surviving spouse may be eligible for: Basic, Housebound, and Aid and Attendance (the highest award). Whereas receiving Housebound and Aid and Attendance is predicated on the claimant having "unreimbursed medical expenses" only the amount that is received as "Basic" pension ($1,037 per month in 2013 for a single veteran) can be used for other than medical expenses such as home repair that is necessary for the health, maintenance, or welfare of the claimant.
Military separation documents are obtained from the National Archives. Here is the web address to download the requisite form:
http://www.archives.gov/veterans/military-service-records/standard-form-180.html
Before you take the advice of hiring an expensive elder law attorney or private firm to assist you, contact a County Veteran Service Officer (CVSO) who will look at your case for no charge. You can find a CVSO here:
http://nacvso.org/
Your initial goal is to make sure that your father qualifies from both a health and financial perspective. Do not let an application be filed until you are sure it will be approved. A good CVSO will help you make that determination. If over-resourced from an asset perspective you may wish to consult a professional on the best way to cure this problem.
Your second goal is to make sure you have all of the documentation required on the front end. What most often causes delays is an incomplete application or improper or insufficient evidence to substantiate the claim (income and expense documentation in particular).
The VA now has an expedited program for applications that are thorough and COMPLETE. Contacting a congressmen or senator before you have even filed an application will just make everyone angry. see more
Question
What is the proper/legal way to decline POA if the issue comes up?
In your question you seemed more concerned with being responsible for his health care needs than his financial needs. Unless there is... In your question you seemed more concerned with being responsible for his health care needs than his financial needs. Unless there is language specifically charging the POA with health care proxy a POA only allows the attorney-in-fact to act with respect to financial and contractual matters, not healthcare decisions. A quick read of the document will tell you if healthcare is included.
Since there is no reason to make a decision now, don't. Things change, and if indeed you end up with POA that may be a good thing in that the matters you mentioned related to bank accounts and the house will be in your control.
You can decide at the time if you wish to accept appointment or not. If you refuse the language is very simple:
RESIGNATION
STATEMENT OF ATTORNEY-IN- FACT
AS TO UNWILLINGNESS OR INABILITY TO ACT
I, ______________, of __(Address)______, ____(City), _____(State), __(Zip), a resident of _________ County, __(State), named as Attorney-in-Fact under a Durable Power of Attorney executed by ______________, then a resident of and domiciled in ____(City), ___(State), and dated the ___ day of ________, 20__, do hereby state that I am unwilling to act as such Attorney-in-Fact as of the date of the execution of this document.
Executed this ___ day of ______, 20__
___________________________________________
(Your Name) see more
Since there is no reason to make a decision now, don't. Things change, and if indeed you end up with POA that may be a good thing in that the matters you mentioned related to bank accounts and the house will be in your control.
You can decide at the time if you wish to accept appointment or not. If you refuse the language is very simple:
RESIGNATION
STATEMENT OF ATTORNEY-IN- FACT
AS TO UNWILLINGNESS OR INABILITY TO ACT
I, ______________, of __(Address)______, ____(City), _____(State), __(Zip), a resident of _________ County, __(State), named as Attorney-in-Fact under a Durable Power of Attorney executed by ______________, then a resident of and domiciled in ____(City), ___(State), and dated the ___ day of ________, 20__, do hereby state that I am unwilling to act as such Attorney-in-Fact as of the date of the execution of this document.
Executed this ___ day of ______, 20__
___________________________________________
(Your Name) see more
Question
How can I leave money, house without going through probate or pay taxes?
The Unified Federal Estate and Gift Tax only applies to estates valued over $5 million. Georgia (where you say you are from) does not have... The Unified Federal Estate and Gift Tax only applies to estates valued over $5 million.
Georgia (where you say you are from) does not have an estate or inheritance tax.
So, presuming the estate we are talking about is valued under $5 million there is no tax issue at death.
Probate can be avoided by several methods; sometimes dependent on the nature of the asset. For instance, IRA's and life insurance pass by beneficiary and free of probate if a person or persons other than "the estate of" is named. Bank accounts held jointly also avoid probate. Lastly, assets titled in the name of a living trust (and many other forms of trust) will similarly avoid probate.
Any asset held solely by an individual will be probated.
So, depending on the asset and how you wish to handle it the involvement of an attorney may, in fact, not be necessary. see more
Georgia (where you say you are from) does not have an estate or inheritance tax.
So, presuming the estate we are talking about is valued under $5 million there is no tax issue at death.
Probate can be avoided by several methods; sometimes dependent on the nature of the asset. For instance, IRA's and life insurance pass by beneficiary and free of probate if a person or persons other than "the estate of" is named. Bank accounts held jointly also avoid probate. Lastly, assets titled in the name of a living trust (and many other forms of trust) will similarly avoid probate.
Any asset held solely by an individual will be probated.
So, depending on the asset and how you wish to handle it the involvement of an attorney may, in fact, not be necessary. see more
Question
How do I get help from VA for assisted living and help in the house?
Provided your father meets service and medical requirements there should be no issue in receiving assistance. Read the articles here:... Provided your father meets service and medical requirements there should be no issue in receiving assistance.
Read the articles here:
https://www.agingcare.com/Veterans-Assistance
And then call your local Area Agency on Aging or your state or county Veteran Affairs office to find a County Veteran Service Officer (CVSO) to help you.
One issue you may run up against is the Catch-22 whereby in order to get benefits the veteran has to incur expenses yet the veteran does not have the funds to expend.
In other words, in order to receive an Aid and Attendance Improved Pension for assisted living, dad would have to show evidence that he is going to incur expenses for assisted living. If he can't afford assisted living, how will he show the VA that he has such expenses?
The key to solving this problem is knowing that the VA application for non-service connected pension is based on prospective expenses going forward, not perspective expenses looking backward.
I have had success getting awards where the veteran shows as evidence of expenses a contract with an assisted living facility indicating that the contract, and therefore expenses, will be incurred commencing the month after application (which is when benefits would start if an award is granted). This may be the key to getting him what he needs.
Make sure you speak of this idea to anyone who you find to help you. see more
Read the articles here:
https://www.agingcare.com/Veterans-Assistance
And then call your local Area Agency on Aging or your state or county Veteran Affairs office to find a County Veteran Service Officer (CVSO) to help you.
One issue you may run up against is the Catch-22 whereby in order to get benefits the veteran has to incur expenses yet the veteran does not have the funds to expend.
In other words, in order to receive an Aid and Attendance Improved Pension for assisted living, dad would have to show evidence that he is going to incur expenses for assisted living. If he can't afford assisted living, how will he show the VA that he has such expenses?
The key to solving this problem is knowing that the VA application for non-service connected pension is based on prospective expenses going forward, not perspective expenses looking backward.
I have had success getting awards where the veteran shows as evidence of expenses a contract with an assisted living facility indicating that the contract, and therefore expenses, will be incurred commencing the month after application (which is when benefits would start if an award is granted). This may be the key to getting him what he needs.
Make sure you speak of this idea to anyone who you find to help you. see more
Question
When Medicaid makes a claim against my my mother's house, can I make payments instead of selling the home?
North Carolina's Medicaid Estate Recovery Program only extends to assets that are subject to probate. Therefore, the last thing you... North Carolina's Medicaid Estate Recovery Program only extends to assets that are subject to probate. Therefore, the last thing you want is for the disposition of the house to be handled via a Will as the property will then be subject to probate and recovery by Medicaid.
Alternatively, the house can be titled in the name of a Revocable Living Trust. Assets titled in the name of a Revocable Living Trust are not subject to probate in North Carolina and therefore not subject to Medicaid recovery.
Since from an ownership perspective (with respect to Medicaid eligibility) an asset owned by "The Mary Jones Revocable Living Trust" is the same as one owned by "Mary Jones" there is no issue with continued Medicaid coverage and "gifting" if the house is retitled in the name of a revocable trust. Your mom will still own the property and have full control of it just as she does under the current deed. You will be named as the trustee and the beneficiary of the trust.
The only issue that may come up is with respect to Homestead property tax exemption. It may be in North Carolina that a home titled in the name of a Revocable Trust may not be eligible for same. If the home does not qualify for exemption under the name of the trust if may cost you a few hundred dollars more per year in property taxes. It will be up to you to decide whether it is worth it or not.
If you have POA for mom you can probably do this without her involvement (if the POA has the correct language) and it should not be very expensive. You do not need a pricey elder law attorney, the guy or gal around the corner will suffice. see more
Alternatively, the house can be titled in the name of a Revocable Living Trust. Assets titled in the name of a Revocable Living Trust are not subject to probate in North Carolina and therefore not subject to Medicaid recovery.
Since from an ownership perspective (with respect to Medicaid eligibility) an asset owned by "The Mary Jones Revocable Living Trust" is the same as one owned by "Mary Jones" there is no issue with continued Medicaid coverage and "gifting" if the house is retitled in the name of a revocable trust. Your mom will still own the property and have full control of it just as she does under the current deed. You will be named as the trustee and the beneficiary of the trust.
The only issue that may come up is with respect to Homestead property tax exemption. It may be in North Carolina that a home titled in the name of a Revocable Trust may not be eligible for same. If the home does not qualify for exemption under the name of the trust if may cost you a few hundred dollars more per year in property taxes. It will be up to you to decide whether it is worth it or not.
If you have POA for mom you can probably do this without her involvement (if the POA has the correct language) and it should not be very expensive. You do not need a pricey elder law attorney, the guy or gal around the corner will suffice. see more
Question
Dad will be in long term care. Mom is home, and pays rent. Will Medicaid take all his money and leave her with...
jdfamilyinc... Given the minimal assets involved, your parent’s case is not complicated (though I understand that this is a whole new world... jdfamilyinc...
Given the minimal assets involved, your parent’s case is not complicated (though I understand that this is a whole new world to you and indeed it does seem complicated).
I discussed the life insurance policy issue above and with the disclosure of the second policy my suggestions still apply. The first step here is to determine if the cash values put dad over the $1,600 limit. If so, you can probably designate one or both as “burial funds” as described above. Or, another option I did not discuss previously, is to withdraw from the policies an amount that will bring the cash values below $1,600 and transfer it to mom.
There is an issue with respect to income. Your father’s income exceeds the maximum permitted of $2,130 per month. In Connecticut this is handled by having the applicant “spend down” income on cost of care as opposed to creating an Irrevocable Qualified Income Trust which is the way it handled in many other states.
An outline of the rules published by the State of CT can be found here:
http://www.ct.gov/dss/lib/dss/pdfs/ltc_issues.pdf and I’m sure a conversation with someone in the Department of Social Services (or more easily and perhaps more helpful, the social worker at the facility where dad will be residing) will clear things up for you.
Have a look at the application itself. Doing so may help you determine if the process is something you can handle by yourself. see more
Given the minimal assets involved, your parent’s case is not complicated (though I understand that this is a whole new world to you and indeed it does seem complicated).
I discussed the life insurance policy issue above and with the disclosure of the second policy my suggestions still apply. The first step here is to determine if the cash values put dad over the $1,600 limit. If so, you can probably designate one or both as “burial funds” as described above. Or, another option I did not discuss previously, is to withdraw from the policies an amount that will bring the cash values below $1,600 and transfer it to mom.
There is an issue with respect to income. Your father’s income exceeds the maximum permitted of $2,130 per month. In Connecticut this is handled by having the applicant “spend down” income on cost of care as opposed to creating an Irrevocable Qualified Income Trust which is the way it handled in many other states.
An outline of the rules published by the State of CT can be found here:
http://www.ct.gov/dss/lib/dss/pdfs/ltc_issues.pdf and I’m sure a conversation with someone in the Department of Social Services (or more easily and perhaps more helpful, the social worker at the facility where dad will be residing) will clear things up for you.
Have a look at the application itself. Doing so may help you determine if the process is something you can handle by yourself. see more
Question
As Power of Attorney for mom, can I create a rental agreement?
As POA you can do anything that you like with respect to the your mother's financial and contractual affairs as long as the terms of... As POA you can do anything that you like with respect to the your mother's financial and contractual affairs as long as the terms of the document are not violated.
Keep in mind that renting creates rental income which technically requires reporting to the IRS and may create taxable income if there is a net gain after expenses.
Rather than take the adversarial route with your sister, it may make sense to simply state that it's time to make a "contribution to household expenses" since the stay has continued so long. If the contribution requested is less than fair market value rent perhaps they will be cooperative.
Whatever funds change hands, by the way, I would have them go to you rather than land in mom's account if possible. see more
Keep in mind that renting creates rental income which technically requires reporting to the IRS and may create taxable income if there is a net gain after expenses.
Rather than take the adversarial route with your sister, it may make sense to simply state that it's time to make a "contribution to household expenses" since the stay has continued so long. If the contribution requested is less than fair market value rent perhaps they will be cooperative.
Whatever funds change hands, by the way, I would have them go to you rather than land in mom's account if possible. see more
Question
Who is eligible for VA benefits?
Check his separation papers (DD-214 or equivalent). It will be indicated if he was ever considered "active". If never... Check his separation papers (DD-214 or equivalent). It will be indicated if he was ever considered "active". If never considered active, he will not be eligible for non-service connected pension (e.g., "Aid and Attendance") which is the benefit you are seeking.
You may also find the information in the Veterans Benefits Guide that AgingCare.com created to help families here is the link: https://www.agingcare.com/eBook/Veterans-Benefits?ebs=rtfhg see more
You may also find the information in the Veterans Benefits Guide that AgingCare.com created to help families here is the link: https://www.agingcare.com/eBook/Veterans-Benefits?ebs=rtfhg see more
Question
Dad will be in long term care. Mom is home, and pays rent. Will Medicaid take all his money and leave her with...
vankeurengroup... Establishing an Irrevocable Funeral Trust is a good strategy and makes a lot of sense for many Medicaid applicants. ... vankeurengroup...
Establishing an Irrevocable Funeral Trust is a good strategy and makes a lot of sense for many Medicaid applicants. Depending on the state, anywhere from apx. $5,000 to $12,500 (or possibly more) can be set aside by both the applicant and the spouse for last expense purposes.
In this case, however, we are talking about an existing policy which, because of its low cash value, is easily managed without creating a trust for the policy. Moreover, doing so would be a bit cumbersome in that this is an existing policy not part and parcel of a pre-paid funeral arrangement and a funeral provider would have to be found that would accept assignment of the contract which most are not, in my experience, wont to do.
Way too much trouble in this instance.
BTW...funeral trusts AND the burial accounts I mentioned above can both be funded prior to application (in some states, like Florida, up to $2,500 can be set aside in burial accounts). see more
Establishing an Irrevocable Funeral Trust is a good strategy and makes a lot of sense for many Medicaid applicants. Depending on the state, anywhere from apx. $5,000 to $12,500 (or possibly more) can be set aside by both the applicant and the spouse for last expense purposes.
In this case, however, we are talking about an existing policy which, because of its low cash value, is easily managed without creating a trust for the policy. Moreover, doing so would be a bit cumbersome in that this is an existing policy not part and parcel of a pre-paid funeral arrangement and a funeral provider would have to be found that would accept assignment of the contract which most are not, in my experience, wont to do.
Way too much trouble in this instance.
BTW...funeral trusts AND the burial accounts I mentioned above can both be funded prior to application (in some states, like Florida, up to $2,500 can be set aside in burial accounts). see more
Question
Dad will be in long term care. Mom is home, and pays rent. Will Medicaid take all his money and leave her with...
jdfamilyinc... I would never advise one to seek or not to seek counsel. That is a determination you must make. Maybe, though, I can help... jdfamilyinc...
I would never advise one to seek or not to seek counsel. That is a determination you must make. Maybe, though, I can help you get there.
First let's make sure we have covered all the bases.
Assets: You said there are none except the life insurance policy. Is that accurate? Bank accounts, brokerage accounts, savings bonds, stocks, bonds, mutual funds, IRA's? Real estate including a personal residence? If a personal residence how is it currently titled?
Income: Does dad earn more than $2,130 per month gross inclusive of Social Security, Pension, investment income, or any rents, promissory notes or mortgages?
Lastly, estate planning documents. Are powers of attorney, health care surrogates (aka power of attorney for healthcare), and wills or will substitutes (e.g., revocable living trust) in place?
Let me know.... see more
I would never advise one to seek or not to seek counsel. That is a determination you must make. Maybe, though, I can help you get there.
First let's make sure we have covered all the bases.
Assets: You said there are none except the life insurance policy. Is that accurate? Bank accounts, brokerage accounts, savings bonds, stocks, bonds, mutual funds, IRA's? Real estate including a personal residence? If a personal residence how is it currently titled?
Income: Does dad earn more than $2,130 per month gross inclusive of Social Security, Pension, investment income, or any rents, promissory notes or mortgages?
Lastly, estate planning documents. Are powers of attorney, health care surrogates (aka power of attorney for healthcare), and wills or will substitutes (e.g., revocable living trust) in place?
Let me know.... see more
Question
Dad will be in long term care. Mom is home, and pays rent. Will Medicaid take all his money and leave her with...
Here is how it works in Connecticut (other states have similar rules but the particulars may be different): Income: Mom is designated as... Here is how it works in Connecticut (other states have similar rules but the particulars may be different):
Income: Mom is designated as the "Community Spouse". Federal and state law contains "spousal impoverishment provisions" concerning both income and assets. Mom is entitled to retain, in 2013, between a minimum of $1,891 and a maximum of $2,898 (depending on her evidenced need) of the couple's combined income.
Life Insurance: If the face amount (death benefit) of a policy or policies exceeds $1,500 then the cash value of the policy or policies are considered countable assets for eligibility purposes. Dad is permitted to retain up to $1,600 in assets. If he owns the policy you can deem it his only countable asset.
If the policy allows transfer of ownership (which it may not because it is a group policy) you might consider transferring the policy to mom who is permitted (in 2013) to retain one-half the couple’s combined countable assets above a minimum retention level of $23,184 up to $115,920.
But the easiest way to handle this will be to simply designate the policy as a “burial fund”. Both mom and dad are permitted to set aside $1,500 each as a burial account. I haven’t seen a Connecticut application but most will ask if there is an asset or a portion of an asset that you wish to deem a burial fund.
Regardless of who ends up owning the policy you or mom can pay the premiums. see more
Income: Mom is designated as the "Community Spouse". Federal and state law contains "spousal impoverishment provisions" concerning both income and assets. Mom is entitled to retain, in 2013, between a minimum of $1,891 and a maximum of $2,898 (depending on her evidenced need) of the couple's combined income.
Life Insurance: If the face amount (death benefit) of a policy or policies exceeds $1,500 then the cash value of the policy or policies are considered countable assets for eligibility purposes. Dad is permitted to retain up to $1,600 in assets. If he owns the policy you can deem it his only countable asset.
If the policy allows transfer of ownership (which it may not because it is a group policy) you might consider transferring the policy to mom who is permitted (in 2013) to retain one-half the couple’s combined countable assets above a minimum retention level of $23,184 up to $115,920.
But the easiest way to handle this will be to simply designate the policy as a “burial fund”. Both mom and dad are permitted to set aside $1,500 each as a burial account. I haven’t seen a Connecticut application but most will ask if there is an asset or a portion of an asset that you wish to deem a burial fund.
Regardless of who ends up owning the policy you or mom can pay the premiums. see more
Question
How much, if any, should my mother pay me per month to move in?
jeannegibbs is spot on in her advice to you. I will add some clarification. Charging room and board, if you are to be "above... jeannegibbs is spot on in her advice to you. I will add some clarification.
Charging room and board, if you are to be "above board" (no pun intended) with the IRS may cause an income tax liability to you. Do a search and the appropriate IRS document will come up.
A taxable event may also occur if you are to charge for personal services rendered.
If you intend on being on the up and up then you may want to look at both options and see which will create the smallest liability (probably room and board).
If you will be charging for personal services having a contract as mentioned is essential to avoid problems if Medicaid benefits are ever sought.
Whether or not you declare the transactions, make sure you keep records. see more
Charging room and board, if you are to be "above board" (no pun intended) with the IRS may cause an income tax liability to you. Do a search and the appropriate IRS document will come up.
A taxable event may also occur if you are to charge for personal services rendered.
If you intend on being on the up and up then you may want to look at both options and see which will create the smallest liability (probably room and board).
If you will be charging for personal services having a contract as mentioned is essential to avoid problems if Medicaid benefits are ever sought.
Whether or not you declare the transactions, make sure you keep records. see more
Question
Question
How do I explain mother-in-law's living situation on her tax forms?
MichMash...here ya go: http://www.michigan.gov/documents/2856_11014_7.pdf Page 5 "In accordance with MCL 211.7cc(5), an owner who... MichMash...here ya go:
http://www.michigan.gov/documents/2856_11014_7.pdf
Page 5
"In accordance with MCL 211.7cc(5), an owner who
previously occupied the property as his or her
principal residence but presently resides in a
nursing home or assisted living facility may retain
the exemption if he or she manifested an intent to
return to the property by satisfying all of the
following conditions:
a). The owner continues to own the property
while residing in the nursing home or assisted
living facility,
b). The owner has not established a new
principal residence.
c). The owner maintains or provides for the
maintenance of the property while residing in
the nursing home or assisted living facility, and
d). The property is not occupied, is not for sale, is not leased, and is not used for any business or commercial purpose." see more
http://www.michigan.gov/documents/2856_11014_7.pdf
Page 5
"In accordance with MCL 211.7cc(5), an owner who
previously occupied the property as his or her
principal residence but presently resides in a
nursing home or assisted living facility may retain
the exemption if he or she manifested an intent to
return to the property by satisfying all of the
following conditions:
a). The owner continues to own the property
while residing in the nursing home or assisted
living facility,
b). The owner has not established a new
principal residence.
c). The owner maintains or provides for the
maintenance of the property while residing in
the nursing home or assisted living facility, and
d). The property is not occupied, is not for sale, is not leased, and is not used for any business or commercial purpose." see more
Question
How do I go about getting Medicaid for my Mom?
Here is the website to file an on-line application for Medicaid. http://www.myflorida.com/accessflorida/ Florida's on-line system... Here is the website to file an on-line application for Medicaid.
http://www.myflorida.com/accessflorida/
Florida's on-line system works very well and it is the only way to go. Anyone can file the application. Neither the applicant nor the claimant need have an email address as all paperwork will be sent through the mail. You can have correspondence sent to your home address in lieu of mom's. Make sure her assets are under $2,000 and her income is under $2,130 before you apply. see more
http://www.myflorida.com/accessflorida/
Florida's on-line system works very well and it is the only way to go. Anyone can file the application. Neither the applicant nor the claimant need have an email address as all paperwork will be sent through the mail. You can have correspondence sent to your home address in lieu of mom's. Make sure her assets are under $2,000 and her income is under $2,130 before you apply. see more
Question
My Grandmother gifted my fiance her property and he built a house. She is now ill, what will medicaid do?
BTW...a correction regarding JessieBelle's response above. Prior to DRA '06 it was correct that the penalty for a transfer would... BTW...a correction regarding JessieBelle's response above.
Prior to DRA '06 it was correct that the penalty for a transfer would reduce over time from the date of the transfer.
That is not the case today. Now that DRA '06 is fully implemented, any transfer made in the five years prior to application is treated as if the gift was made concurrent with the application and any penalty will be based on the full value of the transfer. see more
Prior to DRA '06 it was correct that the penalty for a transfer would reduce over time from the date of the transfer.
That is not the case today. Now that DRA '06 is fully implemented, any transfer made in the five years prior to application is treated as if the gift was made concurrent with the application and any penalty will be based on the full value of the transfer. see more
Question
If mom receives an additional $1100.00 per month in veterans Aid & Attendance benefits, would that make her in...
http://www.canhr.org/factsheets/medi-cal_fs/html/fs_ADFPLP.htm
See this regarding the Medi-Cal Program Policy Manual and Aid and Attendance benefits (Section 10J) stating that Aid and Attendance benefits are not countable income resources:
http://www.dhcs.ca.gov/services/medi-cal/eligibility/Documents/Article10-Income.pdf see more