Question by GOT2BREAL: Can father do a gift of equity to me –if he is receiving medicaid?
My father is currently in a nursing home and is receiving Medicaid. We had to put his home up for sale because Medicaid said they would not continue to pay as long as he had the home He has no spouse. I am his only child. My question is…. I can’t really afford the price that social services says I must sell the home for. Can my father do a gift of equity to me and still receive medicaid?
I live in the state of Virginia that I think has a 5 year lookback period. I don’t want to do anything that will affect his medicaid benefits.
Thanks for your responses.
Answer by wizjp
I’d talk to his caseworker; it can be done in some circumstances, but not usually
What do you think? Answer below!