Cwillie - yeah that could work if dad owned it BUT problem is that dad actually doesn't own the car to be able to sell it. Dad has a lien on it plus the lending was done as per dad's credit not granddaughters.
Cars like homes are sticky to deal with for Medicaid and just how sticky will depend on IF dad is living in a facility/NH on Medicaid OR is doing community based still living in his home Medicaid.
Dad still having a lien on the car adds another layer to all this in that Dad doesn't own the car…..monthly note & insurance coverage has to be paid or it's Hello! repo man
If its that's dad's is in a facility, Medicaid requires that he does a co-pay of his monthly income to the facility as his required SOC (share of cost). So just who is gonna pay the note and insurance?….. will the lender even allow for someone other than dad be the primary driver?…..probably not. imho dad kinda really has limited choices in all this as dad doesnt own the car….and dad doesn't have the $ to ever pay on the car….the lien holder wants payment or it will be repo'd and if granddaughter has moved it so that it's no longer garaged as per the note, she can get into trouble.
CJ - if dad is in a NH, you need to understand just what the SOC means…..dad as a widower will have no-none-nada-zero of any $ anymore. All he will be allowed is a small personal needs allowance which varies from $ 35 - $ 115 a month depending on your state. Most states have this set at $ 50 or 60 and that's it….so anything dad needs….like barber shop visits, clothing replacement, payment on an old insurance policy or funeral policy will have to either come from the PNA or family pays for whatever is needed from now till when he dies.
BUT if dad is still living in the community, he will still have some of his monthly income to hopefully pay the car note as well as his other living costs. If that's the situation, i'd see if dad can add granddaughter onto his insurance as a secondary driver if its the case that she lives with him and she does the driving to take him to medical appointments, grocer etc as his full-time caregiver and both he & she can verify that is the situation. Otherwise it's a gifting of use of an asset of his which Medicaid will not be happy with once its found out….and it will eventually be discovered.
Also for the vehicle to be an exempt asset it needs to be within a certain Blue Book value. For car's it used to be around 10K - 15K when I did my mom's widow/widower NH Medicaid application. So if dad went and bought an expensive new car recently, its gonna be over the limit.
Cars like homes are sticky to deal with for Medicaid and just how sticky will depend on IF dad is living in a facility/NH on Medicaid OR is doing community based still living in his home Medicaid.
Dad still having a lien on the car adds another layer to all this in that Dad doesn't own the car…..monthly note & insurance coverage has to be paid or it's Hello! repo man
If its that's dad's is in a facility, Medicaid requires that he does a co-pay of his monthly income to the facility as his required SOC (share of cost). So just who is gonna pay the note and insurance?….. will the lender even allow for someone other than dad be the primary driver?…..probably not. imho dad kinda really has limited choices in all this as dad doesnt own the car….and dad doesn't have the $ to ever pay on the car….the lien holder wants payment or it will be repo'd and if granddaughter has moved it so that it's no longer garaged as per the note, she can get into trouble.
CJ - if dad is in a NH, you need to understand just what the SOC means…..dad as a widower will have no-none-nada-zero of any $ anymore. All he will be allowed is a small personal needs allowance which varies from $ 35 - $ 115 a month depending on your state. Most states have this set at $ 50 or 60 and that's it….so anything dad needs….like barber shop visits, clothing replacement, payment on an old insurance policy or funeral policy will have to either come from the PNA or family pays for whatever is needed from now till when he dies.
BUT if dad is still living in the community, he will still have some of his monthly income to hopefully pay the car note as well as his other living costs. If that's the situation, i'd see if dad can add granddaughter onto his insurance as a secondary driver if its the case that she lives with him and she does the driving to take him to medical appointments, grocer etc as his full-time caregiver and both he & she can verify that is the situation. Otherwise it's a gifting of use of an asset of his which Medicaid will not be happy with once its found out….and it will eventually be discovered.
Also for the vehicle to be an exempt asset it needs to be within a certain Blue Book value. For car's it used to be around 10K - 15K when I did my mom's widow/widower NH Medicaid application. So if dad went and bought an expensive new car recently, its gonna be over the limit.