I would like to know the ramifications of a gift of equity when purch moms house. I've lived w/ her for 5 yrs. the funds from the sale would be put in an acct for her use to enter a home. Would the gift of equity delay her eligibilty for medicaid when the proceeds are gone. Would the gift need to be paid back?
1 Answer
Helpful Newest
First Oldest
First
There are attorneys who can help you with this. Some say there are ways around the rules. I'm not an attorney, nor am I an expert on Medicaid rules, so I can't say. I would advise you to seek a professional opinion and to be sure the attorney is well schooled in Medicaid rules. You may want to clear the attorney you choose with the State Bar Association.
Carol