This is to take care of them while they are in assisted living? The family member (grantor) suffers from dementia and is not eligible to receive Medicaid. If not, if the state takes the property because the grantor has to go into a nursing home, can the POA purchase the family property during that process?
If you’re thinking you can buy the property “cheaply” simply because it’s left to you in the will, that’s a huge NO.
Was a Medicaid application started and there’s asset transfers or other money moves in their past that would be red flags for Medicaid? So Medicaid wasn’t filed for?
Just what are the issues for their not being eligible for LTC Medicaid?
it’s- to me - an odd phrase to post, especially if your now trying to find out how to use your dpoa to sell elders property to yourself.
Just sayin’.....
Liquidating an asset to generate funds isn't something to be done lightly. I have some reservations that, as someone noted, this could be considered to be something akin to self dealing.
If you hire an investment manager or someone to manage the funds after sale, you're incurring costs that wouldn't otherwise exist.
You really need to speak with an attorney experienced in real estate, Medicaid and elder law, or a firm with specialties in each area.
You cannot benefit from the transfer or sale of the house. He/she leaving it to you after they pass has nothing to do with it while he/she is alive and in need of a federal assistance program.