How long do I have to wait to sell my home after my husband passes away? - AgingCare.com

How long do I have to wait to sell my home after my husband passes away?

Follow
Share

We pay a mortgage and have a small amount of equity in our home. My husband has Alzheimer's and will soon need more care than I can give. I am worried with him being on Medicaid will I lose my home or the rights to "move on" after he passes because Medicaid will take all the profit. He is already on Medicaid at this time but I am his caregiver.

This question has been closed for answers. Ask a New Question.
16

Answers

Show:
If you are the sole owner of the house, then Medicaid for your husband cannot touch the home. If the home is titled in joint names (you and he both on the deed), then it is possible that his 50% interest can be at risk, depending on your state law. That's because some states permit recouping the Medicaid bills against jointly held property, and other states do not permit that. So you will need to check with an elder law attorney in your state to be sure you know what the law is in your state.
Helpful Answer (0)
Report

my thoughts duting my husband's rapid decline was that as soon as he passed, I would sell the house and move on. As the end got near and after he finally passed, I listened carefully to all those who had told me not to do anything for a minimum of 6 months, maybe even a year. My husband will soon be gone 3 months. I am content where I am, but I am still considering selling and moving on. Much depends not only on your financial circumstances, but also on your emotional, psychological, and mental circumstances. Do you have family and friends nearby? Do you have a job? do you have a church family? don't think you have to rush off to something new. There is enough change going on in your life now; and there will be more...much more...You need time to adjust to each change. Sit back, take a deep breath, and consider a lot of options. Write down the pros and cons of each. Weigh the good and the bad; the postive and the negative. Don't rush into anything. Do what you must do, but don't rush into what you MIGHT do. Be still and listen...the Lord will tell you waht to do. Good luck and God bless.
Helpful Answer (6)
Report

When all the financial questions are answered, remember this....sometimes selling your home you shared is like losing him again. My Mom waited 3 years and sold nearly all her things, and nearly had a nervous breakdown.
I waited 5 years after being widowed, remarried and moved in with new husband, which seemed easier, but I frequently "miss" things about my new home, and feel bad that I couldn't bring along everything I wanted to because new hubby had everything we NEEDED. I hope you don't have the problems with Medicare that are suggested here. Talk to someone!
Helpful Answer (3)
Report

Look over the papers from Medicaid, and see an estate lawyer as soon as possible. If he dies, Medicaid will not force you to leave your home, but if you sell it, payment becomes due.
Helpful Answer (2)
Report

I am so mad.....when my husband was diagnosed with alzheimers, we had our wills drawn up. This was second marriage for both. I owned a home. I put his name on my house when we had the wills drawn up. I dont understand why this lawyer did not advise against me doing it. It was such a confusing time for both of us, I was thinking if something happend to ME at least he would have some where to live. How stupid a thought that was...looking back. I think he will be in a home this year. This change was done 5 years ago.
Helpful Answer (2)
Report

I would agree that you need to see an Elder Law Attorney who is well versed in Medicaid as they can assist you with all the ins and outs.

A lady I knew years ago lived in her home with her husband and it was in both of their names. She became sick with cancer and died and her husband immediately sold their house as he was afraid of losing everything to Medicaid. He took the money and bought a Mobile Home in a new Park and only had his name on it. He became sick from cancer and and went on Medicaid and I believe his son wound up with the mobile home because he had been in an accident and lost both legs and was on Medicaid as well.

I really understand that you want to hang on to as much of your home and estate as possible so I would really get an Elder Law Attorney and get something going to help you right away.

None of us think we will ever be in this position and therefore we wait too late to make the changes we need to have done years earlier. It is a horrible mistake.

God Bless you as you work to get this handled!
Helpful Answer (2)
Report

thank you for all the good advice. Igloo572 I hope I have more than a decade ahead of me LOL that would make me 67! I am definitely going to make an appointment with an elder law attorney. I care for my father who lives in our home so I also want to know my responsibility there also. I am glad I asked this question albeit late but at least I can try and salvage something for MY retirement years.
Helpful Answer (2)
Report

I am 57 years old. Does this mean until I die I must remain in this home because what would I be able to afford if Medicaid garnishes all profits?
Helpful Answer (1)
Report

You really should make an appt with an Elder Law Attorney. They will be able to answer all your questions and help you save your assets...
Helpful Answer (1)
Report

You do need to consult with a certified eldercare attorney about asset protection. Mr. Heiser above has written a book on the subject that you would find helpful. When it comes to care taking your dad in your home, even if he's on Medicaid, that won't have an impact one way or the other. But taking care of your husband, if he's on title to the home as well, generally the federal law which also tends to be operative in the States, is that if you take care of him in your home for more than two years, that's preventing him from having to go into a nursing home, it generally protects your home. You need the attorney to tell you the details and get you set on the right path. You will need a doc's verification that your husband was not able to live alone during the prescribed. Be sure your attorney is elder certified and Medicaid savvy. If your husband is not any mediately need of a nursing home, and if you feel you have time to get the book, you should do that so you will be able to ask better questions when you visit an attorney. You are being affected doubly hard with both your dad and has been to care for. If there is any way you are able, try to find a little bit of help so you can have some time off for yourself or even to just get some errands done without worry.
Helpful Answer (1)
Report

See All Answers
This question has been closed for answers. Ask a New Question.
Related
Questions