Protecting Your Home In This Economy

When someone is in a nursing home and receiving Medicaid, their primary residence is exempt.  Therefore, the government generally will not force you to sell your home.  However, in order for it to be exempt there must be a spouse or disabled child in the home, or the person in the nursing home must have expressed their intent to return home.

Due to estate recovery, if the government paid for nursing home care, it has the right to recover that money.  Recovery takes place in probate, where the biggest asset is usually … your home.  So even though your home was exempt during your life, it may be taken after your death.

With a little advanced preparation and planning there are strategies that can keep you in your home for your lifetime and pass it to your loved ones outside of probate upon your passing.