AuntJane6 Asked March 2015
If my house is put in my name, will I lose my Medicaid?
Follow
Share
My home was purchased for me by dear friends, but left in their name. We are discussing putting the home in my name. Its value is much less than the $50,000 I have seen as a limit. Will the acquisition of property, which would continue to be my primary residence, jeopardize my Medicaid eligibility?
This question has been closed for answers. Ask a New Question.
1 Answer
pamstegma Mar 2015
NO ! Don't even think of doing that!! Medicaid will claim the asset.!! And the tax implications would be HUGE! That would be a very large and taxable gift!!
Helpful Answer (2)
Report
This question has been closed for answers. Ask a New Question.
Popular Questions
Related Questions
- Higher Medicare premium because of income change. Any advice?
- My ex-husband has been in ICU for 4 months with a 4 week break to a LTAC, they want to move him to a nursing home. What are options?
- Which is the best long term care in Florida (33702) through straight Medicaid?
- Medicaid penalty. Any advice?
Ask a Question