Is my grandma able to give me her car before she enters a nursing home in a couple of weeks?

Follow
Share

Without any problems from Medicare paying for the nursing home. She wants to give to me her 2009 Chevy Impala.

This question has been closed for answers. Ask a New Question.
Find Care & Housing
3

Answers

Show:
Seems Medicare and Medicaid are getting mixed up here. Medicare only pays for short-term not longterm. A 2009 car is still worth enough money to help with Gma's care.
Helpful Answer (0)
Report

No. You don't say if she is on Medicaid if so, the car was considered an asset. Can't be given away. If she is private pay and will need to apply for Medicaid within five years, same thing, can't give away assets. You may be able to purchase it at book value. Whoever is helping GMA can ask Medicaid this question.
Helpful Answer (0)
Report

She can "give" you anything she wants to... and if you think she will not need the Medicare in the next 5 years it should be OK. But if you think she may, you may be better off finding out the blue book value ( probably not too much for a 2009 car) and just "buying " it from her. I "bought" my parents sweet ride when they moved in with me and stopped driving, for a nominal amount. But I was sure I could pay it back if a problem arose. They should only come after you if she runs out of money, as I understand it. We gifted a truck to a cousin who needed it, and we have had no problems. So worst case, just be sure you can reimburse if a problem arises.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Related
Questions