Is My Mother's Home Exempt as an Asset for Medicaid?
The question I have is in regards to my mother. She owns her home in Oregon free and clear. If she has to go into a rest home, will her home become an asset of value for medicaid, or is it exempt. If it is not exempt, what would be the best scenario to maintain this asset?
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posted by Jeffrey D. Voudrie @ 9:00 PM
3 comments
3 Comments:
The home could eventually be used by Medicaid to recover costs spent on her care. There isn’t an easy way to protect it because any gift made in 5 years will cause her to be disqualified for the period of time the gift would have otherwise paid for.
Thank you for getting back to me on this matter. Is there a limit on the amount of the house they would take, or the entire amount of the house, or what if we did a reverse mortgage?
They can reclaim up to the amount they spent.
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