No assets but $40,000 condo which was bought 3 yrs ago and has daughter and Mom on it. Can Medicaid take?

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Rehab in Nursing home. Live in Ohio. No mortgage. $240 in condo maintence fees. Two names when purchased. Do they follow the paper trail on this? If we helped purchase - do we get to keep half?

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The condo if the Medicaid applicants homestead it is an exempt asset but at whatever % their ownership is. So maybe 1/3 if equal or 50/50 for mr/mrs & daughter. If condo is a vacation property or is the home of daughter or in another state it's probably going to be viewed as non exempt asset....so they will be ineligible for Medicaid till their ownership share is sold & spent down.

If dad/mom gave daughter the $ for her part of down payment or ownership, that's gifting & will come up in the look back of the applicants financial records. Real property (home, land) ownership info is collected local & dovetails to state so will show up eventually.

Property value is 40k?? That's really low. Really.

40k is a pretty minimal amount to have to deal with for medicaid and the reams of paperwork & compliance that will follow the property both in yearly Medicaid renewal & MERP (estate recovery). Plus tracking % of costs for past & future years. I'd suggest you all pull all the paperwork on the property & the parents financials and see an elder law attorney. What might be able to be done is for daughter to buy parents share and they do a self cancelling installment note on this but the amount is low enough to be within Medicaid income limits set by your state. Whether a SCIN is an available option will dependent on their ages& the amount as payback needs to be within acturial lifespans tables of the parents and daughters ability to pay. as there is no mortgage (so no others involved) that hurdle for doing a SCIN isn't an issue. SCINs are estate planning options used all the time by generationally wealthy but have to be done early enough to work for irs review for life tables.

If dad is currently in a facility for rehab post hospitalization, his stay is bring paid by Medicare. He has at least 3 weeks of medicare coverage. If he can qualify for additional rehab as he is "progressing", medicare can extend coveage up to 100 days at 80/20 payment coverage. You need to understand the clock is ticking. Whatever you do for any financial or legal changes has to be done & complete before the Medicaid application. If dad is the one needing Medicaid & mom is not, there are all sorts of issues for a community spouse that need to be thought through before the application as well. Once the application is done, everything asset-wise (& possible penalty issues) are fixed. For couples situation, Medicaid does a "snapshot day" ( usually the date of application) from which all financial, property ownership, etc is fixed at. For most of us, all the programs & acronyms are brain overload. One of the experts on this site - Gabriel Heiser - has a most excellent book on all this. You can order it or get it from your library. It's a lot to deal with and within short order, understanding whats what & good experienced legal is essential. Good luck.
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