This raises a question that had never occurred to me. How should I handle the following for Medicaid purposes should I need to apply for my Dad?
My dad and I share a house that we co-own with rights of survivorship. I pay the mortgage and household expenses, my Dad pays me. We have been doing this for 12 years.
The mortgage is obvious, he pays half of what the mortgage statement is, in one check every month. I keep documentation on all the bills and how they are split. Would that be sufficient to clarify that monthly checks written to me are for mortgage and shared household expenses, not gifts to me? I assume I should keep this documentation for at least the five year look-back period, yes?