Jerry Taylor explains how Medicaid nursing-home payments work as loans the state can recover from your estate. A mother's $280,000 house faced a $288,000 lien after three years of care at $8,000 monthly. A legal structure set up five years ahead can block this recovery.
So your mom spent 3 years on Medicaid at the nursing home, and Medicaid paid the nursing home bill about $8,000 a month. When your mom died, she had one asset left. That was the house she'd been living in for 30 years. The house was worth $280,000. Your dad was still living in it. After your mom's funeral, a letter from Medicaid came in. They want all their money back, $288,000. They put a lien on the house, and it can't be sold until they're paid off. What a lot of people don't understand is that the money that Medicaid pays for a nursing home is not free. It's a loan. That loan is secured by everything own. There is a legal structure that will stop this dead in its tracks, but it has to be in place 5 years before the care is needed. I'm going to explain this exact solution in a workshop. The seating is limited, so comment "workshop" and I'll send you the link as long as I can.
comment workshop.free still need plan to keep people out of court. learn how to in less than an hour
