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How To Keep Nursing Home From Taking Your House. Hide or get rid of any potentially dangerous objects. Many individuals may be able to use medicare, masshealth or supplemental security income (ssi) to help pay for the care provided in these settings.
Or when you open up their chart and the computer freezes from www.pinterest.com
Medicaid will let a nursing home resident keep their primary residence so long as the resident (or someone acting on their behalf) says that they intend to return home if that ever becomes possible. This is because the assets in a revocable trust are still under the control of the owner. So, here, since the house is only worth $500,000, the medicaid applicant will not need to sell their house in order to qualify for medicaid.
Your home is exempt this means that for medicaid purposes your house (up to $500,000 in equity) is not counted as an asset when you apply for medicaid.
However, there are circumstances where selling the house may be the only way to get the funds to pay for the care that is needed. Another common approach is to use a “life estate” plan to protect a house or cabin from nursing home costs. Therefore you can keep your home and still have medicaid pay for your nursing home costs. Then craft a plan to make it happen.
