I am in the process of investigating Medicaid and other method of care for my mother. How will home ownership affect Medicaid?

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I am in the process of investigating Medicaid and other method of care for my mother. How will home ownership affect Medicaid?

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My mother owns her home outright and its value is less than 300k. Right now I am not too concerned with her house. I am concern with my brother's house. My brother got into a financial bind many years ago but overcame it. He wanted to buy a home but his credit was not good. My mother and father (father passed) took out a mortgage in their names many years ago. My brother has made all of the mortgage payments since. In 2009 my brother was added to the warrant deed as joint. Mother updated the will recently and the attorney change it to joint with survivorship and going to my brother in the will. How will this affect, if any, the assets for Medicaid in Florida?

Asset Limits Asset Protection Medicaid

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If your mother’s name is on it (brother’s house) and it’s not her primary residence it is considered an asset. 😐 Sorry

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Your problem may be that Mom owns a second house and Medicaid does not allow that. One of them may have to be sold for her care. If brother had paid the Mortgage why didn't Mom just turn the house over to him. She really never owned it. If you sell hers, her half of his may have a lean put on it at her passing. Then when he sells, he loses at least half of the proceeds.

You really need a lawyer for this. Hope brother kept good records.

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I am in the process of investigating Medicaid and other method of care for my mother. How will home ownership affect Medicaid?

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