What happens to the family residence?
The family residence may be exempt under Medicaid law. There are special rules for the family home including when a spouse, child or sibling is currently living in the home. You can also submit an “Intent to Return Home.”
Intent to Return Home
If you sign a statement saying that you intend to return to your home at some point in the future, the Medicaid Agency will not force the sale of your home. The home will not be counted for eligibility purposes, but the Medicaid Agency will place a lien on your home. If you do not return home, then whenever your home is sold, while you are living or after death, Medicaid will have the right to be reimbursed from the proceeds of the sale for any expenses it paid toward your care. If you do return home, then the Medicaid Agency must withdraw the lien.
Still Have More Questions?
Contact our experienced Upstate New York elder law attorneys to schedule a free initial consultation.
Our firm focuses our practice on estate planning and Medicaid planning. We are also very experienced in handling elder law, irrevocable trust , revocable trust, basic estate planning(Will, Power of Attorney, Health Care Proxy), Medicaid law , and children with disabilities / supplemental (special) needs trust matters.
The Koldin Law Center handles the entire Medicaid application process for the client with the goal of preserving and protecting some or all of the family life savings from the costs of Nursing Home care.