It has been suggested that I file a quit claim deed and make myself the only one on the deed. I am concerned that this may result in him being disqualified for medicaid coverage or will result in a higher participation fee for his care. I am am leary of asking the financial casemanager. Can you help me?
You can stay in the home as community spouse and Medicaid will get its due after your death and your kids will need to deal with it.
It is too late to protect your assets.
The house, while he is alive, is an exempt and as the Community Spouse you remain in it. When he passes, a lien will be placed on the house that will not need to be satisfied until your death or you sell the house. You will be able to live in it. Medicaid will never "take" it. So I see no need for quick claim deed.
Who suggested this and for what possible benefit?
I don't have any experience with a quitclaim deed, but is your husband even cognitively able to legally do this? If not, are you his FPoA with all the specific financial decision-making authority on his behalf?
Every state has Medicaid Planners, so you can consult with one first, or an elder law/estate planning attorney.
Never ask a casemanager for financial advice.
Don't trust a forum of strangers with something that could put you in legal jeopardy in a really big way.