Follow
Share

Mom is on Medicaid and in long term care nursing home.

This question has been closed for answers. Ask a New Question.
Find Care & Housing
I'd suggest you pause & think about the long-view situation with the condo. If its owned by an irrevocable trust, you don't have many options. But if it's the case that mom personally owns her condo, think about IF keeping it makes sense.

Mom being on Medicaid requires that the condo - which currently as her homestead is an exempt asset - will become a non exempt asset of her estate upon her death and subject to an attempt of recovery of the value of her estate to repay medicaid for costs paid. This is known as MERP or MERS - it's an estate recoup process & if mom applied from Medicaid after 2005/2006 she is subject to MERP. So that condo will have some sort of lien or claim on it by Medicaid. Just how it's done will depend on your states laws.

Are you aware of this?
And are there likely exemptions, exclusions or other reasons that make sense for you to have mom continue to keep the condo, & pay for all costs on the condo (whether rented or from your purse) knowing that it will eventually be subject to an required attempt at recovery by MERP?

Your just a few months into mom at a NH. Based on posters on this site, family carry on paying & doing for about 6 mos on all things "parent", then realize financially & emotionally keeping house, car, storage unit, etc.... all doesn't make sense and they don't have realistically any exclusions, etc to MERP or want to deal with probate. So house gets sold, mom falls off Medicaid and spends down house sale proceeds and applies for Medicaid when she becomes impoverished again. Give some thought if "condo" can work for possibly years & years and if so plan that you will be keeping meticulous records on every penny paid on the condo & doing probate.

Keeping a NH medicaid parents home can be done, it's like having a 2nd or 3rd home (which has costs for possibly years and then however long probate runs) but without guarantee of ownership so runs a risk. Most cannot afford a 2nd home & avoid risk. But if you can, go for it.
Helpful Answer (1)
Report

I want to clarify my orginal question. My mother went into a nursing home in March and is covered under Medicaid. Her condo maintenance, utilities, insurance and taxes add up to about $449 a month. I was able to rent her condo out as of May 1st for $500 per month, which include all utilities. The lease is for 3 months at a time, as ordered by the Association. This is in the state of Florida. I don't want to make any money on this. I just want to cover the bills.
Helpful Answer (0)
Report

First check with the condo owners association to see if they allow rentals. They can be pretty picky about that.
Helpful Answer (2)
Report

I would consult with an Elder Law attorney who knows Medicaid rules to ensure that the entire situation is evaluated, because, since Medicaid eligibility is partly based on income, rent proceeds might make her income too high and she may jeopardize her benefits. The details would matter.
Helpful Answer (1)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter