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broscolo
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 Posted: Tue Mar 31, 2009 5:39 pm Post subject: Real Estate Transfer - mother on Medicaid to son |
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My mother is a Medicaid recipient. She is 65, cancer survivor, and doing well. She works part-time (20 hrs / wk.) and farms also. The farm is not a big money maker, but has been in our family for a long time and we do not want to lose it.
My mom's farm is 23 acres and she lives on the farm in a doublewide on a permanent foundation (can't be moved). She owes about $50K on the farm. I have the ability to pay off her farm, and she wants to put the farm in my name. The property appraises for about $100K. I live right next to her farm.
We live in Georgia.
Question: Is there any way I can pay what my mother owes on the farm and we can put the farm in my name without her losing Medicaid elgibility, or is it a foregone conclusion that Medicaid is going to be able to take the farm one day no matter who owns it? No lien has been placed on the property. We are searching for an attorney with experience in this area, but any comments or advice are appreciated. Thank you
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broscolo
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| Posted: Tue Mar 31, 2009 8:01 pm Post subject: update...she is now on Medicare, no longer on Medicaid |
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| Just talked to my mom and apparently she is no longer receiving Medicaid, but is now on Medicare. Of course, Medicaid still has a claim against her, but at least she cannot "lose" her Medicaid. |
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 smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Tue Mar 31, 2009 8:20 pm Post subject: |
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Hi broscolo!
Welcome to forums!
As your mother already receives Medicaid, transferring the property now can create problems for her. There are chances that she may lose her medicaid eligibility. I would suggest you to contact an attorney and take his opinion before transferring the farm in your name.
Feel free to ask if you have further queries.
Sussane |
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broscolo
Guest
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| Posted: Wed Apr 01, 2009 12:06 am Post subject: |
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Thanks for the reply. My mother is no longer on Medicaid. She is on Medicare. I don't know if Medicare has the same ability to do Estate Recovery.
We are looking for an estate planning / elder care attorney to help find the best way to try to save the farm. I've read that there are exemptions for income-producing farms from Medicaid Estate Recovery, but I will definitely need a good attorney to navigate what we are quickly discovering is a treacherous legal mine field. |
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savior70
Joined: 25 Mar 2009
Posts: 1422
Location: Florida
168.75 Dollars($)
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| Posted: Wed Apr 01, 2009 5:06 am Post subject: |
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Hi
Medicare also can do estate recovery like Medicaid. They can put lien on your property. However, you have taken the right decision to consult a real estate attorney to find a way to save the farm. Do keep us informed about how things work out in the days to come. |
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