I intend to apply for Medicaid next year when I complete 5 years in NJ as an Immigrant. My pension abroad is within Medicaid income limits but I have a self occupied house abroad where I live whenever I go there. I do not have any property in USA and I live with my son and his family in NJ. Will the house abroad be considered as an asset for Medicaid eligibility or will I have to transfer the same to my son? I do not want to sell the house.
Candca2, do you mean Medicare, which is based on age, or Medicaid? My opinion is that if you have a very valuable home overseas, you should not apply for Medicaid, which is for poor people. If it's not very valuable, will they find out about it? Will it count as your "home," so that they would let you keep it but try to recover the value after your death?
To get an answer to this, I think you need a VERY smart Elder Law attorney!