• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The Potter Law Firm

North Carolina and Kentucky Estate Planning Attorneys

phone iconNC (704) 944-3245
KY (606) 324-5516
Attend A Free Seminar - KY Attend A Free Webinar - NC/SC THIS IS AN ADVERTISEMENT

  • Home
  • About Us
    • About Our Firm
    • Attorney and Staff Profiles
  • Practice Areas
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • Pet Planning
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Nursing Home Planning
    • Veterans Benefits
  • Communities We Serve
    • Kentucky
      • Boyd County
        • Ashland
        • Florence
      • Kenton County
        • Covington
        • Fort Mitchell
        • Independence
    • North Carolina
      • Mecklenburg County
        • Charlotte
        • Davidson
        • Huntersville
  • Resources
    • Definitions
    • DocuBank
    • Elder Law
      • Elder Law Links
      • Elder Law Reports
      • Local Elder Law Resources
        • Ashland Elder Resources
        • Covington Senior Resources
        • Huntersville Elder Law Resources
        • Independence Senior Resources
    • Elder Law Reports
    • Emergency Legal Documents
    • Free Estate Planning Seminars
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • IRA & Retirement Planning
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Pet Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Kentucky Probate Resources
      • Ashland, Kentucky Probate Resources
    • Newsletters
    • North Carolina Probate Resources
      • Huntersville, NC Probate Resources
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Elder Law Reports
      • Estate Planning for Niches
      • Trust Administration
  • Contact Us
  • BLOG
Home » Elder Law » Can Medicaid Take My Home?

Can Medicaid Take My Home?

August 11, 2014 by John Potter

Can Medicaid Take My Home?The Medicaid program is utilized by many seniors who require long-term care. In fact, Medicaid pays for most of the long-term care that is being received by elders in the United States.

This is confusing to some, because the majority of people are going to qualify for Medicare when they reach the age of 65. Unfortunately, Medicare does not pay for custodial care. This is the type of care that you would receive if you were to reside in a nursing home or assisted living community.

Medicare only covers medical and convalescent care. The program does not cover custodial care.

Medicaid Eligibility Requirements

Medicaid is intended for people with very limited financial resources. As a result, you must be able to prove that you have financial need if you want to qualify for coverage.

Because of the income and asset limits, people typically engage in a process called a spend down before they apply for Medicaid. But Medicaid will not let you just give your children their inheritances in advance until you have very little left in your own name; instead, Medicaid has rules you must comply with.

The asset limit stands at $2000 for an individual in most states, but your home does not count up to a certain amount of equity. We have offices in North Carolina and Kentucky. In these states, the equity limit is $543,000 at the time of this writing in 2014. Your home is safe while you are living, as long as you have less than $543,000 in equity.

It should be noted that there is no equity limit at all if your spouse is staying in the home.

Medicaid Recovery Efforts

The states are required to seek reimbursement for money spent on long-term care after a benefit recipient passes away. If you engage in a Medicaid spend down to divest yourself of assets prior to applying for the program, you would have very little left in your own name, so your estate would be limited.

Because of the fact that your home does not count, you could potentially pass away while in possession of your home after receiving help from Medicaid. Under these circumstances, technically, Medicaid could seek to attach your home after you pass away.

In reality, most states are not very aggressive when it comes to Medicaid recovery efforts. However, you could take steps in advance to make sure that your home cannot be targeted by Medicaid recovery. There are different ways to protect your home based on your individual circumstances.

Medicaid Planning Consultation

There is a lot to take into consideration if you are interested in future Medicaid coverage. If you have questions, we can provide you with the answers.

We offer free Medicaid planning consultations, and you can contact us through this link to set up an appointment: Charlotte NC Medicaid Planning.

 

  • Author
  • Recent Posts
John Potter
Latest posts by John Potter (see all)
  • What You Need to Know about the Medicaid Look-Back Rule - January 3, 2023
  • How to Pass Down Your Legacy in Your Estate Plan - October 3, 2022
  • Practical Steps to Take after Receiving a Terminal Diagnosis - September 30, 2022

Filed Under: Elder Law

Other Articles You May Find Useful

Medicaid estate recovery
Advocacy Groups Call for the Eradication of the Medicaid Estate Recovery Mandate
Medicare Part B premiums
An Overview of 2022 Medicare Cost Increases
elder financial abuse
Elder Financial Abuse Is a Looming Threat
Veterans Pension
This VA Benefit Can Give Seniors a Boost
long-term care planning
Will Medicare Cover Living Assistance?
nursing home asset protection Medicaid planning
Longevity Statistics Shed Light on Nursing Home Asset Protection

Free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Texting Permission

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Subscribe to Our Blog

  • This field is for validation purposes and should be left unchanged.

Testimonials

default image

Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

DKS & KMS Client Review August 28, 2020

default image

John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

David J. Client Review August 28, 2020

default image

My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

Jillian Client Review August 28, 2020

<< Prev
Next >>

Where We Are

Ashland

ASHLAND
1620 Carter Avenue
Ashland, KY 41101-7631
Phone: (606) 324-5516
Fax: (606) 324-4766

Charlotte

CHARLOTTE
15720 Brixham Hill Avenue
Suite 300,
Charlotte, NC 28277
Phone: (704) 944-3245

Huntersville

HUNTERSVILLE
11330 Vanstory Drive
Huntersville, NC 28078
Phone: (704) 944-3245

Northern Kentucky

NORTHERN KENTUCKY
7310 Turfway Road
Suite 550,
Florence, KY 41042
Phone: (859) 372-6655

Office Hours

Monday8:30 AM - 4:30 PM
Tuesday8:30 AM - 4:30 PM
Wednesday8:30 AM - 4:30 PM
Thursday8:30 AM - 4:30 PM
Friday8:30 AM - 3:00 PM

Map/Location

potter_sidbr_map
potter law logo
  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

The information on this website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Privacy Policy | Terms of Service | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2023 American Academy of Estate Planning Attorneys, Inc. THIS IS AN ADVERTISEMENT