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Under federal
law, title to the principal residence may be transferred (without
sale) at any time to the following persons:
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A
spouse;
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A son or daughter under age 21 or who is blind or permanently
disabled; |
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A
sibling who has equity in the home and who was residing there
for at least one year immediately prior to the individual’s
admission to a nursing home. |
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A
son or daughter who was living in the home for at least two
years immediately prior to the individual’s admission to
a nursing home and who provided care which enabled the parent
to live at home. |
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To
anyone, so long as the home was exempt at the time of transfer. |
Your home is exempt from consideration as a resource (and remember,
you can transfer an exempt resource) when you are on Medi-Cal under
any of the following circumstances:
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If
the beneficiary’s spouse, child under age 21, or “dependent
relative” continues to reside in the home.
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The residence is inhabited by the recipient’s sibling
or son or daughter who has resided there continuously for
at least one year prior to the date the recipient entered
the nursing home.
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There
are legal obstacles preventing the sale and applicant/beneficiary
provides evidence of attempts to overcome such obstacles.
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The
home is a multiple dwelling unit, one of which is the principal
residence of the beneficiary.
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If
during any absence, including nursing home stays, the beneficiary
intends to return home, and states so in writing. If the beneficiary
in mentally incapacitated, a family member or someone acting
on her or his behalf may state this intent. |
If your home is exempt under one of the above circumstances, you
can transfer your home without affecting Medi-Cal eligibility. If
your home is exempt on the basis that you “intend to return
home,” you need a declaration from the person to whom you are
transferring the home, stating that “…you can return to
live there at any time.”
Just because your home is exempt for the purposes of Medi-Cal eligibility
while you are alive, does not prevent the state from placing an
estate claim on the property after your death; the manner in which
you transfer your home is equally important.
For more information about services provided by the experts at Linker Financial Group, Inc. or to schedule a brief, no charge, no obligation consultation to see if Medi-Cal Long Term Care planning is right for you, please give us a call or send us an e-mail right now.
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