Give Your House to Your Child Exception
to 5yr Look Back Rule to Protect the Value of Your Home
You can protect the value of your home by having one of your children move in with you for at least 2yrs before entering a nursing home, and provide the care that you need to remain in your home. It’s called the child caregiver exception to the 5yr look back rule.
Now you might be thinking, “If my home is one of the 10 exempt resources that Medicaid allows me to keep and still qualify for nursing home care, then why do I need to worry about protecting it?” Here’s why. If Medicaid paid for nursing home care, and the person later dies, Medicaid has a right to be reimbursed for the money it spent on that person’s care.
For example, if a person had 2 or 3 years of nursing home care, and dies, the amount that Medicaid paid could be in the hundreds of thousands of dollars. Medicaid would then make a claim against that person’s estate to be reimbursed for hundreds of thousands of dollars. If the home is in that person’s estate, then a portion or the complete value of the home may have to be paid to Medicaid and not to your loved ones. Here’s what you can do to prevent that.
Let’s assume that you have an illness and it’s likely that you will need to enter a nursing home in the near future. But for now, with a little help cooking, cleaning and assistance getting around, you can still remain in your home. If an adult child moves in with you for at least two years before entering a nursing home, and provides the care that you need to remain in the home, then Medicaid will allow you to give your home to your child protecting the value of your home.
By having your adult child move in with you for at least two years before entering a nursing home, and provide the care that you need to remain in your home, you kept the value of your home in the family instead of having your house sold and the money paid to Medicaid. If you didn’t make use of the child caregiver exception to the 5yr look back rule, and Medicaid paid for 2 to 3 years of your nursing home care, a portion or the complete value of your home may have to be paid to Medicaid.
Want Peace of Mind and a Complete Evaluation of Your Case?
Call (610) 347-5035 NOW or Click HERE to Schedule a Consultation with Chester County Pennsylvania Nursing Home & Elder Law Attorney, Michaelangelo L. Dippolito. Click HERE to see the attorney’s background.
Not Ready to Speak to an Attorney Yet? No Problem.
Get this FREE Book and Consumer Protection Guide, Paying for Nursing Home Care in Pennsylvania, A Consumer Protection Guide on What You Need to Know to Protect Your Legal Rights. Here’s Some of What’s in the FREE Book and Consumer Protection Guide:
- What’s it Cost & Who’s Gonna Pay?
- 10 Moves You Can Make to Qualify for Medicaid & Protect Your Life Savings
- Critical 5 Step Process to Your Medicaid Claim for Nursing Home Care
- What You Need to Know About Lawyer Fees
- Arming Yourself with Knowledge is the First Step to a New Beginning
Still Not Ready and Want to Learn More Before You Move Forward? No problem.
Click HERE for more information on Nursing Home & Elder Law in Pennsylvania, and remember, we’re just a phone call away at (610) 347-5035.
Chester County Pennsylvania Nursing Home & Elder Law Attorney with ThePeoplesLawFirm.com
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