Hey everyone, I’m wondering if it’s still possible to work with a lawyer on a Medicaid Asset Protection Trust and other stuff like putting the house in my name after submitting a Medicaid application? Specifically, can we still transfer things like the house and car while waiting for Medicaid approval? I’m kinda confused about the process, any help would be great!
Yeah, you can totally work with a lawyer even after submitting the Medicaid app. Just make sure the timing is right to avoid penalties. Some assets, like the house, can be protected using a Medicaid Asset Protection Trust.
@Dahlia
Wait, so if you put the house in a trust, it’s not considered yours anymore for Medicaid? That’s good to know!
Benaiah said:
@Dahlia
Wait, so if you put the house in a trust, it’s not considered yours anymore for Medicaid? That’s good to know!
Yep, that’s the idea. The house doesn’t count against your Medicaid eligibility once it’s in the trust. But be careful—timing’s important!
I’m not a lawyer, but I think the hospital or rehab center can help with the Medicaid app. I’ve heard they have social workers who know the ropes.
Alina said:
I’m not a lawyer, but I think the hospital or rehab center can help with the Medicaid app. I’ve heard they have social workers who know the ropes.
True, they do have people who can help. But if you need more specific advice about the trust, a lawyer is definitely the way to go.
For the tax relief, if the house is in an irrevocable trust, you might still be good, as long as you’re the grantor and living there. Just double-check with your local rules, though.
ChrisDaniel3 said:
For the tax relief, if the house is in an irrevocable trust, you might still be good, as long as you’re the grantor and living there. Just double-check with your local rules, though.
I was worried about that! I’m planning to live in the house, so hopefully it won’t affect the tax relief. Thanks for the heads-up!
I think Medicaid might hold off on charging while the application is pending, but you should probably check with a lawyer. They can give you exact steps.
Blue said:
I think Medicaid might hold off on charging while the application is pending, but you should probably check with a lawyer. They can give you exact steps.
Good to know! The whole process is a bit confusing with the timing of everything. I’ll definitely get in touch with a lawyer soon.
Just a heads-up—if the lawyer sets up a trust, you may still be able to sell the house later. You’ll need to check the details with them though.
Lee said:
Just a heads-up—if the lawyer sets up a trust, you may still be able to sell the house later. You’ll need to check the details with them though.
Ah, that’s a relief. Thanks for clarifying! I wasn’t sure if that would be an option.