Posted by mmh on July 01, 2001 at 11:59:19:
I believe you would have had to do the quit claim deed three years ago; I think that’s how far back Medicaid looks at assets and transfers. I could be wrong, but I do know that doing that NOW won’t avoid them.
the profit goes to medicaid? - Posted by kelly
Posted by kelly on June 28, 2001 at 21:36:56:
I negotiated an agreement on a vacant home. The home has been vacant since the owner was placed in a care facility. Medicaid pays the majority of the monthly fee for her care. The deal I negotiated was with the daughter who is legal guardian for her mother and has power of attorney. The daughter, however, was told that any profit from the sale would have to go towards reimbursing Medicaid. Any ideas on how the deal might be structured to avoid having the proceeds go to Medicaid?
Re: the profit goes to medicaid? - Posted by Tanny
Posted by Tanny on June 29, 2001 at 10:05:38:
If the house is owned free and clear, have the mother quit claim deed the house to the daughter and then do the deal with the daughter.
Re: the profit goes to medicaid? - Posted by Nate(DC)
Posted by Nate(DC) on June 29, 2001 at 14:56:56:
This does not get around the issue. To put a fine point on it, if you are trying to avoid giving the money to medicaid, you are conspiring to commit fraud. Probably better not to get involved. Besides, if you can buy the house for X dollars, why do you care if the money goes to medicaid, or to the daughter? That is her problem, not yours!
NT