Quit Claim Deed (Michigan) questions

[adelpit]

What is the name of your state (only U.S. law)? Michigan

My brother and I share joint tenancy ownership of our home. I recently placed him in a nursing home under Medicaid. I plan to rent our home, or rather the upstairs flat. I believe my brother and I need to file a "Quit Claim Deed", which grants me full ownership of the home. Otherwise my brother would have rental income, which the state would want, or it might even disqualify him from Medicaid if I saved it.

Do I need to file a Quit Claim Deed, or some other form?

On the form, should I give my brother's residence address as the property we own, or the address of his nursing home (which, btw, is in another county, but in the same state, Michigan.)?

Any other advice you can provide will be appreciated, thank you.

 

[LdiJ]

What is the name of your state (only U.S. law)? Michigan

My brother and I share joint tenancy ownership of our home. I recently placed him in a nursing home under Medicaid. I plan to rent our home, or rather the upstairs flat. I believe my brother and I need to file a "Quit Claim Deed", which grants me full ownership of the home. Otherwise my brother would have rental income, which the state would want, or it might even disqualify him from Medicaid if I saved it.

Do I need to file a Quit Claim Deed, or some other form?

On the form, should I give my brother's residence address as the property we own, or the address of his nursing home (which, btw, is in another county, but in the same state, Michigan.)?

Any other advice you can provide will be appreciated, thank you.

Medicaid has a 5 year look back period. Therefore, if your brother were to gift you his share of the house he would become ineligible for Medicaid. You really need to consult an elder law attorney before you accidentally make mistakes that could be problematic.

 

[justalayman]

as LdiJ was speaking to, you need to do this right, if possible or it will not only not benefit you, if could cause a huge list of problems.


if he gifts you his share, which is what you are describing, the fair market value of his share will be used as what he should have in his bank account when coming time to figure any aid that it is an issue. Alternately, if you lie and are caught, he can be required to pay back the source of the funds for anything calculated as what he should have recieved and what he did recieve.

all in all, what you are doing is not a good idea but there are ways to minimize the damage. Do it right or deal with the consequences of trying to cheat the government....

and if you haven't noticed, they have a bit of power over us all.