Has anyone had to get mineral rights valued and sold to qualify for medicaid?

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I am in Michigan, but my mother had a very small share in an oil well, which was treated as mineral rights when it came to Medicaid. Depending on the value of the share, it could be an issue, because it's considered an asset, as it provides income. Mom used to call it her "pennies from heaven", because she'd get a check every quarter for between $40 and $100, depending on how the well was performing. In recent years, the well has fallen off in production, so the checks were averaging $60 per year - seriously.

To get a proper valuation of the asset, I had to contact the company that manages the well and have them send me a letter of value on their company letterhead and signed by the CEO. Total value on Mom's share? $150. Medicaid wasn't concerned with it.
However, if you are dealing with something more significant, you will want to discuss it with an estate planner or attorney dealing with Medicaid law and find out how it should be handled. If you are already at the point of applying for Medicaid, it may be too late to do anything like that - as far as I know, Medicaid considers those rights to be an asset. Any asset beyond your main home and one vehicle are technically up for grabs unless they are somehow protected.

I'm sure someone else will come along with more info.
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