I recently needed to list my mom's home for sale because of her inability to return to her home from the nursing home. I am her power of attorney and the house was successfully sold. The process took about 2 months.
Lisa - ? So the sale has gone through? And sale is recorded? And proceeds from the sale has been deposited into moms bank account?
If so, doing anything now to divert any of moms $ out of her bank account to pay you is going to look like gifting and will pose transfer penalty issues for moms Medicaid application. The sale is recorded and to the penny. Other than Realtor commission & whatever costs paid by seller, all the rest of the proceeds are moms assets. She is going to need to spend it down before becoming eligible for Medicaid.
Basically once your parent is dealing with NH Medicaid applications or eligibility, family does whatever for free. Imo You'd needed to have had a personal needs contract or some sort of Agreement or Promissory Note done between you & mom from before all this to get around gifting concerns by Medicaid.
If the sale was a good bit of $, so there's going to be a longish period of spend down to get to the 2k in assets, you & mom may want to speak with an elder law atty to see if there are any Medicaid compliant options feasible for her. Like a SNT, or a funeral pre-need. Not really DIY but needs experienced elder law atty.
If so, doing anything now to divert any of moms $ out of her bank account to pay you is going to look like gifting and will pose transfer penalty issues for moms Medicaid application. The sale is recorded and to the penny. Other than Realtor commission & whatever costs paid by seller, all the rest of the proceeds are moms assets. She is going to need to spend it down before becoming eligible for Medicaid.
Basically once your parent is dealing with NH Medicaid applications or eligibility, family does whatever for free. Imo You'd needed to have had a personal needs contract or some sort of Agreement or Promissory Note done between you & mom from before all this to get around gifting concerns by Medicaid.
If the sale was a good bit of $, so there's going to be a longish period of spend down to get to the 2k in assets, you & mom may want to speak with an elder law atty to see if there are any Medicaid compliant options feasible for her. Like a SNT, or a funeral pre-need. Not really DIY but needs experienced elder law atty.