My fiance' has always lived with his mother. At 20, his dad left and he assumed all the responsibilities. She's never worked or paid any bills. He has pd house off before and re-financed a loan for upkeep and he and his mother are on the lien. We are now selling and buying a new house. She is 73, on medicaid & medicare. She is going w us,but we are just putting the new house in our names. Anything special we need to do? There will be a profit that we can put down on new house or we'd like to use it for remodeling the new home. Suggestions?
You need to talk to an Elder care attorney who knows Medicaid. Medicaid may have a lien on the house. You will need to determine the impact of selling a house that is in her name and you taking the profit, especially as it relates to Medicaid and her eligibility for Medicaid.
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