I am a divorced man age 63 living in the same house as my ex-wife who is 65. We were married 25 years before divorcing. The divorce decree States when we sell the home we both get 50%. We live in New Jersey and now she had a stroke and requires to the nursing home. Both our names are on the deed. I want to remain in the home. Will Medicaid count the home as assets and penalize her. Will they force me to put the house up for sale and sell it now?
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I think (I am NOT a lawyer) that Medicaid allows someone to own a hone and a car, in addition to other allowable assets. If you buy out her half of the home, the cash becomes a countable asset for her. Since you are divorced, your half of the value of the house is yours.
But meanwhile: would this not be the right time for you to move on, and turn a very upsetting event to at least some sort of advantage? It might be more straightforward for your ex-wife and liberating for you, no?
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