[retiredguy123]

Originally Posted by CoachKandSportsguy

If she disposes her assets prior to becoming cognitively impaired, she will be eligible for Medicaid from the state. There is a time limit of 5 years (from memory no pun intended) from giving away all, to being eligible for Medicaid.

Now, for medicaid reimbursement for medicaid fraud, the state will put a lien like claim on the property, etc though probate court, but with no assets, the state can't recover much, if anything. So if she gives away assets other than the house, a loan would not be the best way, and keeps her house only, the house in a trust would avoid probate and MAY be eligible for medicaid without selling the house, OR sell the house and pay for assisted living from that until eligible for medicaid. .

There are solutions, but elder law attorney is the best. . FYI assisted living where my mom is increases their annual rate at 7-15% a year, which compounds very quickly. starting at 10K per month this year. . and she has been there cognitively impaired for three years and surpassed the life expectancy living with dementia/alzheimers . .

good luck

sportsonlyguy

I would never advise someone with a net worth of over $1 million to endeavour to become eligible for Medicaid.