I have lived with her in her home for the last 7 years so I believe I qualify for two exceptions to the Medicaid 5 year lookback, namely:
- that if a disabled adult child lived in the home for 5 years the home can be given to that disabled adult child with no penalty
- a disabled adult child lived in the home for at least 2 years and provided care that delayed the parent having to enter a nursing home
We have setup a will where in the home transfers to me – a disabled adult child – upon her death (transfer upon death deed I believe is the technical term). Is that the right way to transfer the home to me and ensure there is no 5 year lookback penalty or even so Medicaid can't come after the home for reimbursement? Can it be transferred upon death this way or would she have to transfer the house to me while she is still alive for me to be protected? Also, does this same protection apply to other assets such as cash given to a disabled adult child?
Our goal is to ensure Medicaid can't take the home (or any other asset transferred to a disabled adult child perhaps?) for reimbursement when she has to go to a nursing home.
Thanks for your help.