My ex-husband has a real estate investment trust which cannot be liquidated until the REIT sells its assets. He is applying for Medicaid, any advice? - AgingCare.com

My ex-husband has a real estate investment trust which cannot be liquidated until the REIT sells its assets. He is applying for Medicaid, any advice?

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He is applying for Medicaid, but the REIT is $8000, and, of course, the Medicaid limit is $2000 in assets. In addition, I have loaned him $8000 to pay off his handicapped van and pay for his first month of private pay while waiting for the Medicaid to kick in...and the REIT is supposed to come to me when it matures, to repay me. Is this going to cause a problem?

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I think you need to consult an elder attorney familiar with Medicaid. If the REIT is publicly traded, I would call his broker and have him sell those shares. If it is a privately REIT, I would check with other members to see if one of them would want to buy his stake in the REIT. Also, find out if there is a definite date the REIT is going to close. Also, does he get monthly or quarterly payments on his investment in the REIT? an elder attorney could tell you if you can you can paid back.
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Reply to Becky04473
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Suzi - you posted on this issue a few months back..... did you look into any of the suggestions put forward then? Like getting REIT as inaccessible asset? Or Promissory note?
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Reply to igloo572
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Is this a non-traded REIT? What does his eldercare attorney say about how to list this illiquid asset on the Medicaid application?
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Reply to BarbBrooklyn
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moving your question up so people who have answers might see it.
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Reply to polarbear
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