Follow
Share

I am DPOA for my mothers care. My father passed 1997. My brother moved in a few years later. He is on disability. As mothers health declined, he would take mother to Dr. appointments etc. This year however she has gotten worse and would decline in home care and have brother cancel appointments. I was not able to encourage her to do these things as well. She is now in NH because she needs 24/7 care. She has dementia, CHF, diabetic and other medical issues. My brother wishes to purchase home. I have gotten mixed answers from mothers attorney and NH SW. We are now in PP and will run out of money soon. My sister and I are fine with brother buying family home. It would give her a few more months of PP for her care. I am just wondering if this sale would keep her from getting Medicaid or, how long could it delay her application? Has anyone else gone through this situation?

This question has been closed for answers. Ask a New Question.
@pamstegma, my brother is not on Medicaid. He has lived with mother for 14 years and as her health got worse, he did the grocery shopping, taking her to doctor etc. He has been told that in this situation, he could acquire the home in this scenario. For him to purchase the home we knew we had to do the % tax value. The home needs a lot of repair and market value is not that much really. So, I just wonder if I should just charge him rent for now and if we do that, would he be able to acquire home when mother passes? There is just so much information out there, but I have not seen anything that pertains to our situation. Thank you for your input!
Helpful Answer (0)
Report

Regarding FMV, often times its the tax assessor value. But if the property is not comparable to the others the assessor uses, you may want to have an inspection done on the house and then have it appraised. Appraiser gets the inspection report. Both need to be done by a pros registered with the state, with incensing and perhaps do a seal on their reports. Property could come in less than FMV. But the lower figure is valid.

A good mortgage co will have names on both.
Helpful Answer (1)
Report

The house must be sold at fair market value only or Medicaid will see it as a gift. The proceeds must be put in mom's account and spent down for her care. When the money is used up, she applies for Medicaid.
The problem is this: If brother himself is on Medicaid, he is not going to get a mortgage from a bank to buy the home.
Helpful Answer (1)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter