My 88-year-old mother has been living with me for 2 1/2 years. We have now decided to sell her house. Can we take the money and Buy out my ex-husband’s share of the equity in my home and put her name on the deed along with mine? Will this have Medicaid repercussions or can it be considered child caregiver exemption?
If it were me, I would put the proceeds of the sale in the bank. Then use the money for Moms care. You may need aides at some point. A nice AL. Its easier to get her into LTC if she private pays for even a little while then apply for Medicaid.
Can you "charge" your mom for the care you are giving her?
$xxx.xx for rent, $xx.xx for utilities, $xxxx.xx for your care of her and so on.
You might not be able to "charge" her for the past 2 1/2 years though.
As others have noted it might impact Medicaid.
The best option might be to talk the options over with an Elder Care Attorney
To qualify for the exemption you must have provided medically necessary care, for a period of two years, that kept her out of a nursing home. Assisted living or memory care do not count.