The truck is in my grandpa and his wife's name, but they both agree to give it to me. How can we go about getting another title to the truck?

If Medicaid is paying for Grandpa's care, then he can't give you his truck. It has to be sold for book value and that money goes towards his care. If that money takes him over the Medicaid cap allowed, it will screw him up. Even if you paid for his half and grandma gave u her half you would screw him up.

The idea of Grandma holding the insurance and registration and you just being put on as a driver is a good one. But, you should pay Gma the cost of insurance and registration. Also, if they have Wills, the car should be left to you. But don't be surprised in the end, that Medicaid will ask for you to pay the cost of the car. Which maybe nothing by the time ur grandparents pass.

When my daughter lived with us she purchased a car. Because of her credit at the time, her Dad was co-owner. (She got credit for making payments) The car is in his name so are registration and title. Daughter is the main driver. She no longer lives with us. Insurance told us they didn't care where the car was. It didn't need to be at our address to be in husbands name and be insured.
Helpful Answer (1)
Reply to JoAnn29

If he has enough in savings to get through 5 years of self pay before applying for Medicaid then he can gift the car. Nursing homes cost close to 100k per year or more. Stocks are way down right now so to clear the 5 year penalty time, he may need assets of a half million or more to gift the car. Otherwise, you will need to pay fair market value. Since the title is also in his wife's name, is her health OK?
Another option is to put your name in his auto insurance and you can just use it without the title and let it devalue over time. Medicaid allows for the ownership of 1 vehicle without penalty reguardless if he drives. He just would not have any reserve money for maintinance. You can pay whatever taxes he incurs. You will have to pay for these parts of ownership anyways. Compare the insurance costs of adding you on vs just you. If he is able to add a codicile to his will, then he can pass ownership to you upon his death.
Helpful Answer (0)
Reply to MACinCT
Isthisrealyreal Apr 2, 2020
He won't be able to pay anything on the truck, no insurance, maintenance, license or new tires, nothing, nada, zilch, if he is on Medicaid from my understanding.

Is that how you understand it?
See 1 more reply
Also if grandpa is on Medicaid he can’t be gifting his truck to you without a penalty. You need to make sure this generous impulse doesn’t cost him and grandma financial assistance.
Helpful Answer (3)
Reply to Guestshopadmin

Katiekate is spot on.
I would add that it is important for you to get everything in writing from your grandpa!
Possessions make families crazy sometimes! Don't take it for granted that other family members are just gonna understand.
Cover your butt!!
Helpful Answer (3)
Reply to xrayjodib

Your grandpa needs to request a duplicate title from the DMV. They may require him to fill out a form. Have him call the DMV and get instructions from them.
Helpful Answer (7)
Reply to Katiekate

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