QUESTION
Can I quitclaim deed a property in order to qualify for Medicaid?
Asked on Feb 13th, 2014 on Estate Planning - Idaho
More details to this question:
I am only half owner of a condominium and other half will not sell or buy me out.
8 ANSWERS
Business Attorney serving Orem, UT
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Kirton & McConkie A Professional Corporation
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Medicaid planning can be very complex, so you should get the advice of a competent attorney with experience in this area. When a person makes an application for Medicaid benefits, they must disclose all gifts made in the previous five years, and then the value of those gifts is used to determine an ineligibility period with respect to Medicaid benefits. So if you deed your half of a condo now, the value of that property will still count against you for five years.
Answered on Feb 21st, 2014 at 6:14 PM
Edwin K. Niles
That won't help you because of the look-back period.
Answered on Feb 20th, 2014 at 5:26 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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No, you would be making a gift to someone, and the gift would disqualify you from Medicaid for a period. However, if you own property jointly, and the other owner refuses to sell, you should still be able to qualify for Medicaid. The value of the condo is not "available" because of the joint owner's refusal to sell.
Answered on Feb 18th, 2014 at 5:53 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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No, as to do so, would be to defraud the taxpayers of your assets the value of which is needed for your care, before taxpayer money is used. No free lunch here.
Answered on Feb 18th, 2014 at 5:52 PM
2 Awards
You should not have to if you live there. If you do not, you can force a sale. Meet with an estate attorney as I am not sure you want to quitclaim.
Answered on Feb 18th, 2014 at 4:47 PM
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Probably not. You need to speak with an elder law attorney about your options.
Answered on Feb 18th, 2014 at 4:47 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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No. This would be considered divestment. There may be other options, and the ownership may not affect your qualification for Medicaid, in the first place. You should meet with an elder law attorney to determine where you stand and how best to proceed.
Answered on Feb 18th, 2014 at 4:44 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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In Idaho, I believe that your homestead does not count towards assets. If it isn't your homestead, there is a 5-year look back period, so chances are it would still be included in your assets.
Answered on Feb 18th, 2014 at 4:26 PM