Mom has a car. She does not drive anymore, nor does she want to, but we use it to take her to Dr appointments, shopping, or wherever she needs to go. We need to use the car because she has some difficulty getting in and out of my pickup.
Mom wants to give me the car because she does not want to pay insurance on a car she no longer drives--and I could get cheaper insurance than her anyway. My problem is, if she should ever need Medicaid won't this look like a $5,000 gift? (She won't let me pay her fair market value for it.)
I'm thinking maybe write up a contract where she agrees to give possession of the car to me in exchange for the service of driving her. (Driving Mom around is the only thing the car is ever used for.)
Any other ideas?