Follow
Share

I live in Missouri, and in 1993 purchased a property and put my my parents on it JTWROS so if something happened to me they would have a place to live as my parents NEVER owned their own home. My mother passed in January of 2015, now my father has dementia and needs nursing home care, but I do not want to loose my property. Is is safe or can Medicaid make a claim on it (50% interest?) for nursing home costs Or is it all safe since it is JTWROS? I do not live in the duplex now as I purchased another home, my father has been unable to live there as I moved him in with me for care. The property is currently vacant and in much need of repairs.

This question has been closed for answers. Ask a New Question.
I would think it is safe since you bought it so long ago. You really need to get with an elder law attorney. Laws vary from state to state. If I were able to buy mom property I would have kept it in my name unless it was a gift. Then if considered a gift my Medicaid they certainly would be entitled to seek recovery.
Helpful Answer (1)
Report

Missouri can extend MERP beyond estate recovery, as many other states already have. So you can play the odds and hope they do not pass a law any time soon. Keep an eye on upcoming legislation.
Helpful Answer (1)
Report

I have seen an elder care attorney and several others not specializing in elder care and none have gave me a clear answer. They say it's best to buy my Dads interest out BUT in my research I find information leading me think it is safe as its not an asset until the death of my Dad and then it is immediately mine as the sole JTWROS. I don't really have the money without getting a loan to buy the interest out BUT would like to know definitely if that is my only protection. I do NOT understand why it is such a grey area. This financial stuff should be black and white but the lawyers I have spoke with seem wishy-washy. Even the elder care team that elder care is all their practice consists of.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter