We recently received a settlement from a nursing home incident. I'm Mom's POA. Can I use part of this settlement along with a mortgage for myself, and put a home in both of our names, so that I can bring her to the new home?
My Mom lived with me for 15+ years prior to a massive stroke. She needs 24 hour skilled care (CNA for most things, RN for meds, etc. for limited hours) and would like to be home. My home (still have a mortgage) won't work for a wheelchair, etc. I'd like to sell my home, use some of her settlement as a down payment and have my name on the mortgage to pay the balance.
If I list both of us as owner's of the property is this legal, questionable? Does anyone have experience in something similar?
As one of the Agingcare.com posters has already said, you need immediate advice from an elder law attorney in your state who works with clients who need Medicaid eligibility.
You have several good ideas about providing care if your mother returns home. Working with the regulations in your state, an elder law attorney can explain how your mother can use the settlement funds in ways that will not disqualify her now or in the future.
The elder law attorney can explain how your mother should report the settlement funds to Medicaid, and use the funds and preserve eligibility.