Did I Make A Mistake When I Sold My Mother's Home?
Updated: Jul 26, 2021
You just received a call from your mother’s doctor informing you that she will need long term care.
You conduct research about long term care and are shocked to learn that your mother’s coverage will cost approximately $12,000 monthly is not covered by her health plan or Medicare.
Your mother total assets are approximately $50,000 and she has a home valued at $500,000. The home is not encumbered with a mortgage. Her assets will only pay for approximately four months of care.
You really do not know how to address this problem and decide that the sale your mother’s home is the only viable option.
The $600,000 proceeds from the sale disqualifies your mother from receiving Medi-Cal benefits.
Unfortunately, your decision to sell her home prevents her children from inheriting her home.
An experienced Medi-Cal attorney could qualify your mother for benefits while allowing you and your siblings to inherits the home you were raised in.
It is important to choose a lawyer possessing the knowledge to protect your assets while qualifying you for Medi-Cal. Michael Gaston can help.
Click here to contact him for a free case evaluation: https://www.southerncaliforniaestateplanning.com/long-beach-estate-planning-near-me