Reply to SO: Thoughts on sister and her DH buying a house with my mother?

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Reply to "SO: Thoughts on sister and her DH buying a house with my mother?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The sister can't just stay in a co-owned property--Medicaid will require that mom's share be liquidated before mom is eligible for Medicaid. I do think that's a concern to be considering.[/quote]

They will not liquidate it but probably put a lien depending on the state rules.  Here they put a lien on it but its a really bad idea as they will go after the entire amount until it is paid off.

The best option is for her to keep her apartment and sister and family move in.  When mom passes she can pay the condo fees, upkeep and pay rent to you or other siblings, if there are any or buy you out.  A 3-4 bedroom equal will be far more than one million.[/quote]

The issue we ran into in our family (townhouse co-owned by a trust of several siblings, and one needed Medicaid) wasn't so much how Medicaid would go after the money, but the fact that they would not certify eligibility until that asset had been exhausted in some way or another. (Other siblings also had the option of buying the third out, I believe, but opted not to do so.) That was a huge issue because the sibling needing care couldn't go into a long-term care facility paid by Medicaid until that happened. The whole thing was just a huge mess, and took hours upon hours of time to get resolved.[/quote]

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