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If a person (Medicaid) is living in a nursing home but owns property elsewhere, won't an Irrevocable Trust save her property so that when she dies it won't go back to the state? Also, does the state pay the nursing home extra for a person who is Medicaid? For a measley Social Security check for one on Medicaid is very little for a nursing home. I do know that $60 can be kept for the Medicaid person each month. It costs almost $6,000 a month to live in a skilled nursing home. marymember

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I thought that if my aunt kept telling the nursing home that she plans to get out of the nursing home at some point (even though she won't) that the home would go to the designated person. (which is me, being also her POA.) I thought that going through an eldercare lawyer and getting all the paperwork done with this irrevocable plan that it saved the property for me. My aunt has designated it to be mine when she dies. However, the three years she has been in the nursing home have exceeded the property value. I pay some of the taxes. The homestead taxes are frozen, as they were before she entered the nursing home. It has been an anxious three years, making sure her place is kept up, for she owns three large lots upon where the home is. The home is unlivable..totally in ruins and on occasions lived in by homeless or druggies. But she believes it'll go to me, and as long as she believes that, I will just let her think that. Her place is about a four hour drive from where I live...My aunt lives in my town, in a Christian based nursing home...marymember
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If she is already on Medicaid, she has less than $2000 in funds. It would be too late at this point to transfer the home into a trust. Medicaid pays a contract rate with each Nursing Home which varies by state.
When she dies the equity in her house goes to the state, because they have been paying for all of her care. Family can buy the house for market price if they want to when it goes up for sale.
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