Can they take the house or only one third its value if Father goes into long term care?
Full Question:
Currently my fathers name is the only name on the mortgage {the house is not payed off yet}. If me and my brother get our names added to the mortgage, and sometime down the road our father goes into long-term care and needs money to pay medical bills, can they take the house or only one third its value?
08/15/2007 |
Category: Elderly |
State: Pennsylvania |
#7954
Answer:
Medicaid looks back 60 months from the date of a Medicaid application to determine whether you have made any gifts. The look back period is only an audit period during which time Medicaid has the right to review all of the financial records of the applicant.