My mother-in-law went to a nursing home in July and my wife is trying to get her on Medicaid, all her money is exhausted, but she has life estate on the property, which she signed papers 8 years ago putting property in my wife and brothers name with her having a life estate. Now the medicaid people want her to sell, lease or rent the property. Any suggestions on what can be done?
1 Answer from Attorneys
You should consult with an elder law attorney to have the house paperwork reviewed. However, a life estate does have a calculated value, based on house price and the mortality tables, which is subject to Medicaid spend-down requirements.