Medicaid

[Gardening with Rabbits]

I just got a letter that I owe DH's Medicaid bill and it will not be collected until my death. So, when he collected Medicaid we have a mortgage on our home and owe over 20 years yet. I am going to call tomorrow and get answers, but wanted to know if anybody knew anything about this. Say I decide to sell this house in 5 years then I understand they would take whatever the bank did not get, but what if I went and rented after that for another 5 years and won the lottery or saved a lot of money and bought another house and eventually I died. Would Medicaid come after that house too? If the house only had around $15,000 equity and I worked and even DS paying for this house for the next 20 years then they can take that? What if I remarried and bought a house with a man in both names and I died before him, would the house have a lien on it too? Since the house is the only asset at the time of DH's collecting Medicaid, can they take my future assets? I am worried about DS and him living here and helping me and spending his money fixing this house and then something happen to me and he would be without a home. If it stops with this house then I would be better off selling and letting them take whatever they can and go rent and start over. I was told by people they would not collect on anything as long as he was not in a long term care home and if he was in treatment then it would not be subject to collection and he never spent time in a home other than the last day or 2 of his life in a hospice house, but I just read they can if over 55 and he was 56 when he started collecting and 58 when he died.

 

[catjac1975]

I just got a letter that I owe DH's Medicaid bill and it will not be collected until my death. So, when he collected Medicaid we have a mortgage on our home and owe over 20 years yet. I am going to call tomorrow and get answers, but wanted to know if anybody knew anything about this. Say I decide to sell this house in 5 years then I understand they would take whatever the bank did not get, but what if I went and rented after that for another 5 years and won the lottery or saved a lot of money and bought another house and eventually I died. Would Medicaid come after that house too? If the house only had around $15,000 equity and I worked and even DS paying for this house for the next 20 years then they can take that? What if I remarried and bought a house with a man in both names and I died before him, would the house have a lien on it too? Since the house is the only asset at the time of DH's collecting Medicaid, can they take my future assets? I am worried about DS and him living here and helping me and spending his money fixing this house and then something happen to me and he would be without a home. If it stops with this house then I would be better off selling and letting them take whatever they can and go rent and start over. I was told by people they would not collect on anything as long as he was not in a long term care home and if he was in treatment then it would not be subject to collection and he never spent time in a home other than the last day or 2 of his life in a hospice house, but I just read they can if over 55 and he was 56 when he started collecting and 58 when he died.

You need a lawyer that knows all of the rules.

 

[Rhodie Ranch]

^^ what she said...waay to complicated to rely on the advice of others.

 

[aftermidnight]

OMG, we don't have to deal with stuff like that up here. You need some professional advice.

Annette

 

[digitS']

I don't know anything about this but imagine that a lien would work something like a mortgage, perhaps without the interest - I would sure ask about that.

This is not your situation but I'm reminded of a neighbor's family. Her son went through a divorce a couple of years ago. He received custody of his 2 little girls. He moved in with his grandmother. A widow about 90, she owned a nice home - perhaps her family didn't know that she had a reverse mortgage.

He needed the child care with one kid just in kindergarten. His job wasn't so great so he got a better one. Then, his grandmother became ill and died. I don't know if Medicaid was involved, she only spent a short time in a nursing home. The house had so little value, my neighbor said that they just "signed over" the home to the bank.

Dad and little girls moved in with my neighbor. She is in her 60's and also a widow. She rents the house. The owner, her friend and shirttail relative, told her that the grandmother is welcome to rent the house but the owner doesn't want 3 more people there.

Family disruption, small children, the elderly, illness ... what a mess! The son is likeable, goes to work every day, the kids sweet and well-mannered. The house needs painting and some storm windows. It looks like the owner will just allow deterioration to continue until these people move -- separately? Will the son lose custody of the kids? Will the house next door ever get needed repairs?

Steve

 

[Gardening with Rabbits]

Well basically I asked the Health and Welfare person why should I make repairs on their house. lol. I will get a lawyer. I have been calling, but the law is pretty simple. My estate when I die will be seized. Not furniture and clothes, but bank account and home, newer car or something with value. I asked what if I sold the house now and had some equity in it and she said that is mine. I have to live. I could buy another house or just rent, live, but when I die if I had a home with another person on that title then it would be seized. I said what if I met some old man 10 years from now and we were renting and decided to buy a house and I died first, would they take the house from him. No but after he died they would take it. I said then this goes on forever and she said yes. I could sell this house and live on the money, but say I sold the house 10 years from now and there was a lot of money and I just gave it to DS and he bought a house. That would be okay UNLESS I needed to go into a nursing home and needed Medicaid and they would ask where is the money. Basically I just live but never put my name with another person on a loan or property. I do not want to rent. I guess just live here and keep it in good repair and enjoy life and when I get tired of it sell it and go rent, but I am not like that. This is my home. I will not want to leave. The only reason to rent would be not making repairs, but that is not a life. Rent is high here and would be about as much or more than the house payment, plus no pets, no garden. I could see this if DH and I had a home paid for. He worked for it and he owed and they took it after I died, but if he only paid on a house for 10 years and I go on and work for 20 more and pay this without DH, I do not understand why they could take the whole house and not just what equity he had when he died. I will get a lawyer and see. I asked what if I could not pay the mortgage payments and was foreclosed on? Well they would fight with the bank for any equity in the house, but I would walk away, but still 40 years from now whatever had my name on it would be taken away. Only thing I worry about is DS and how to protect him and since he is young, I wanted to help him. The debt is around $170,000. I could start buying lottery tickets. I do realize this is a debt I owe, but say DS loved this house, fixed it, worked on it, and it was even worth more than $170,000 years from now, they would still force him to sell. He would have to start over. He is not attached to the house like that now, but if he lived here for 58 more years when I died at 120 then he might be, but he also could marry and leave and have no attachment to this house and when I died they would take the house and if any money left would be divided between DD and DS. I wonder if I will have time to plant my onion seeds today. It is really crazy. Everytime I make a plan it changes. I just got into a routine of typing with my job and told DS I was going to be making a little more money and then got an email our line rate was drastically cut. I understand people in India need money too, so I just decided to sit and type even more and as long as the house payment was made it would pay off for DS in the end, so maybe just not meant to live here anymore.

 

[digitS']

Ah, now ...



It's the planning. How about if you can see someone in grief counseling? I bet it's a common problem.

Maybe you can push back a little at the responsibility on your shoulders. Your husband had more than just you. Family. He was a citizen. The union and VA still have some responsibility for my father.

Steve

 

[flowerbug]

definitely see a pro.

if you are happy there and can afford it why move? however, if you don't have much equity i'd consider refinancing to a nearly interest only loan and extend the term to as long as possible to avoid wasting $ you won't ever get back. not sure if you can refinance though if the gov't is already got a posse after ya.

give extra to DS once in a while. not sure what the amount is or if the rules have changed, but used to be that you could give a relative less than $10,000 per year and that would not be a taxable income event. another question for a pro.

our system is messed up, you pay taxes including for Medicare your whole working life. if they aren't getting enough to cover end of life care then that should be more to cover it. can't wait until it is single payer. there's no need for the BS we have now.

good luck.

 

[Smart Red]

Wish I could offer relevent advice. So far I've not had any serious problems related to Spouse's death that were financial in nature. I agree that you need to consult with a legal professional for advice and options. Love you!

 

[Nyboy]

Talk to a lawyer about filing for bankruptcy, and from now on any purchases that are big put in your children's names