nursing home/property protection question

[shesovertheedge]

What is the name of your state? rhode island


Hi, maybe you folks can give me some advice.

I am a 20 year old college student. Property that belonged to my grandfather was transferred to me over the summer. The propery is a beach house on leased land, which has very strict laws setforth by the corporation that owns the land (in which I have a share/ stock certificate). I believe the stock certificate is non-transferrable to any business or government.

Anyway, my grandfather is now in a nursing home, and the state has been inquiring about the assets of my grandparents. They have asked for documentation on the house, and they are probably going to try to take it (even though it is now in my name, and I have paid taxes on it etc.).

What can I do, if anything to protect myself?

Im just a college student who doesnt have 2 nickels to rub together. I plan on contacting the lsc for advice...



I do not plan on letting my house go without some kicking and screaming. Im a pre law major in college, and I know this is a litigious society...how do I fight this I KNOW THERE IS A WAY

 

[ellencee]

shesovertheedge
Twenty year-old prelaw student, huh? Kind of like being a English major or a history major.

Anyway--your grandfather is going to be held responsible for paying for his nursing home care until such time as his ability pay reaches the qualifying limits for Medicaid. Medicaid will review the past three years (depends on your state's laws) and any money or property that has been transferred to another person will be considered as being available for your grandfather's care. Say that after allowable percentages for your grandmother are deducted, your grandfather had $300,000 in assets and gave it all away before he went into a nursing home and that the nursing home costs $3000 per month. Your grandfather will be paying for the first 100 months of his nursing home care; then he will qualify for Medicaid payment.

Someone, like your parents, needs to speak with an estate or elder law attorney.

EC

 

[BelizeBreeze]

shesovertheedge
Twenty year-old prelaw student, huh? Kind of like being a English major or a history major.

Anyway--your grandfather is going to be held responsible for paying for his nursing home care until such time as his ability pay reaches the qualifying limits for Medicaid. Medicaid will review the past three years (depends on your state's laws) and any money or property that has been transferred to another person will be considered as being available for your grandfather's care. Say that after allowable percentages for your grandmother are deducted, your grandfather had $300,000 in assets and gave it all away before he went into a nursing home and that the nursing home costs $3000 per month. Your grandfather will be paying for the first 100 months of his nursing home care; then he will qualify for Medicaid payment.

Someone, like your parents, needs to speak with an estate or elder law attorney.

EC

Which is what I told him in his OTHER post