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Parent receiving Medicaid, can FL home be taken away? |
My parents' home is in my mom's name and she's been in a nursing home for +8 years (alzheimers). Father's health is deteriorating and we're concerned about their home. Upon her death or his death, will Florida take this home? Their estate is very small and this is the only asset. Don't refinance a house in another persons name. I am not a broker or a lawyer, but I know a bad idea when I see one. If you do that you take all of the risk without having any of the benefit. Instead *buy* the house and then rent it back to him. Now, when he passes there are no estate issues, you already own the house. Additionally it is no longer his asset, it can't be seized to settle his debts. You need to buy the house from him. Do it now before he gets worse and is deemed incompetent. It's in his best interest or a nursing home can take the home. Hi, I hope your parents made a will! You Mother cannot sign to sell her home since she is not in her right state of mind! If she gave someone power of attorney that will save you but if not, without a will, it will go into probate upon her death! Nursing homes have the right to use any assets from a family to pay the bill for caring for your mother for these last 8+ years. You also need to consider that they can't affrod to continue to pay for these treatments and still provide care. You must understand that Medicaid and Medicare do not reimburse medical facilities barely half of what they spend on care. |
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