Posted on: 22nd Feb, 2012 05:40 am
There are 6 kids in our family. Dad is disabled and MAY need to go to the nursing home. He owns a large farm and machinery. IF he goes to the nursing home at some point would medicare/medicaid demand he sell his farm? If that happens, are his heirs entitled to any portion of the proceeds from that sale?
Hi Jockey,
If the farm is in your father's name, then medicare/medicaid may demand him to sell off the farm so that they will be able to recover their dues. If there is an excess amount, then it will be given back to the heirs.
Thanks
If the farm is in your father's name, then medicare/medicaid may demand him to sell off the farm so that they will be able to recover their dues. If there is an excess amount, then it will be given back to the heirs.
Thanks
Hi Jockey!
Welcome to forums!
You should contact a real estate attorney and check out if ladybird deed is applicable in your state. If your father transfers the property to you and your siblings using a ladybird deed, then the Medicaid/Medicare authorities won't be able to takeaway the property. Your real estate attorney will be the best person to guide you in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You should contact a real estate attorney and check out if ladybird deed is applicable in your state. If your father transfers the property to you and your siblings using a ladybird deed, then the Medicaid/Medicare authorities won't be able to takeaway the property. Your real estate attorney will be the best person to guide you in this matter.
Feel free to ask if you've further queries.
Sussane