Sold House and Put Funds in Savings

Discussion in 'Share Your Personal Experience' started by Jeniferjmeyer, May 17, 2016.

  1. Jeniferjmeyer

    Jeniferjmeyer Newbie

    I am my father's POA and in Nov., 2011, I sold my parents home. They received A& A starting in May of 2011 and I was advised to place house funds in a Trust Upon Death under my name, then moved these funds to a savings under my name. All monies are used for care of mom and dad both with their joint A & A benefit. The banks advised me how to set up accounts so as not to cause problems with their benefit. They had and have limited funds and at that time, we couldn't risk the loss of their benefit.

    Now, I am applying for my father for Medicaid. He is 87 with hospice and Alzheimer's and served proudly in WW II in the Army. Medicaid is questioning why a recipient wouldn't have a large savings account under their name due to sell of home. It was recommended by the banks, on-line sights and a gentleman that volunteered to help me apply.

    I have faithfully been their POA, 4 hours away and drive out every other month for extended visits, stay at hotels etc. I pay all my own expenses, of course.

    Comments please to assist me?
  2. Kaylin

    Kaylin Hero Member Staff Member


    Unfortunately this is a sticky situation it sounds like you and your parents have gotten into. Technically, the VA should have been notified of the sell of the home and your parents' benefit may have been stopped until they spent down the monies from the sell of the home. I understand that it was put into a Trust Upon Death in your name, though.

    We are not Medicaid experts here and Medicaid differs from state to state, so it is difficult to say what Medicaid will decide or if they will let go of the fact that they sold their home and you moved the money into that Trust Upon Death. What I can tell you is if your father is enrolled in Medicaid, he will have to have his A&A benefit decreased to only $90 a month as the VA will not allow someone to take government funded care money from two sources like their pension benefit and Medicaid at the same time. You will have to decide if the Medicaid or the A&A benefit is the better choice for them financially.

    This might be a question for your local Medicaid officer if you are looking to enroll and they have questions about your father's financials. I wish I could give you a better answer. I am very happy to hear your parents have been able to use the A&A benefit since 2011. A benefit they greatly deserve from your father's service to this country!

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