What Happens to Your House If You Enter a Nursing Home? | Felinton Elder Law Estate Planning Asset Protection

What Happens to Your House If You Enter a Nursing Home?

The decision to put a loved one into a nursing home is often a difficult one. While this event can be very emotional your family, they must also think of finances at this time. How can we afford this care? Is financial assistance available? These are just a few of the concerns that many may have. Although there is assistance available through programs such as Medicaid, this brings about a whole other dilemma. What will happen to the home when my loved one enters a long term care facility?

Understanding the Law

Laws regarding payment for care in a nursing facility and home ownership are very complex legal matters. In order to be eligible for Medicaid, the senior or their family may not be able to sell the home without risking penalties. In some cases, they may not want to. This may be especially true if the spouse or other family resides in the home. This is why it is so important to consult with an attorney during this time. Mindy Felinton has experience with elder care law and estate planning; she can help ensure the best possible outcome.

Avoiding Financial Disaster

Some families may falsely assume that they do not need an attorney to sort out these matters. They may falsely believe that if the home is willed to a spouse, child or another heir that assets are safe when the senior goes to the nursing home. This is not entirely true. Even if the home is not sold while the senior is living, the heirs will still be responsible for the amount owed the state after the loved one’s passing and these funds come from the estate. Without proper safeguards in place, the family may not only lose the home, but find that they are in financial arrears. By using an elder law attorney, this can be easily avoided.

Why Choose Mindy Felinton

Nursing home placement and the financial considerations that may come with it is not something that should be taken lightly. Although an attorney cannot “specialize” in one particular area of the law, it is important that the family seek counsel that is experienced in this area. Mindy Felinton has handled many cases that directly pertains to estate planning and elder care laws. Mindy takes the time to look at each case on an individual basis to see what can be done to protect the senior’s home and other assets. Regardless of the particular circumstances, she may be able to help. Rather than risk Medicaid penalties, take a moment to call us today!