SSI / Medicaid Seizure Questions

[JoshPNYC]

New York

My father is currently receiving government assistant and Medicaid. I have read that upon death, the government can seize property in an effort to repay medical costs. My father has gifted two valuable collections of collectibles to me however they are stored at his home. In the event of his death, how can I protect these items, short of moving them from his home? A document of some sort? Thanks for your assistance.

[commentator]

If your father is currently receiving SSI and Medicaid, then all his estate is supposed to have been taken into consideration when his net worth was calculated. If it is discovered by the people who do asset recovery for Medicaid that you took the collections elsewhere in an effort to keep Medicaid from getting them, it could be and should be determined to be criminal fraud.

It is sort of a grey area, however. If you have assets that are really very valuable, these should on principle be figured into your net worth. But sometimes assets like jewelry, or collections, fail to be declared. If they are ensured in the homeowner's insurance policy or have been listed elsewhere in a net worth estimate, or placed in a safety deposit box recently, rest assured, they will be found by the state.

You might, without begin very specific, call your county office and ask a general question about whether a person can receive Medicaid when part of his or her assets include a valuable collection of some type. You need to have some idea of the approximate value of the collection.

[JoshPNYC]

To be clear, these items were gifted to me BEFORE he started receiving benefits. My concern is that those items are mine, but for space reasons, are stored at his home.

[BL]

Originally Posted by JoshPNYC

To be clear, these items were gifted to me BEFORE he started receiving benefits. My concern is that those items are mine, but for space reasons, are stored at his home.

There will have to be an administrator of the estate upon death , IF the estate ( home and property it's on are not transfered to other family ) .

There will most likely have to be an attorney involved .

It's up to the administrator and the attorney to list the Estate property and sell.

Medicaid recoups what they have paid out off the top .

Your post doesn't make much sense .

What would you do upon his death ?

You'd have to move YOUR property anyway.

If you are so concerned ,move it now ,somewhere/somehow , or sell it.

[commentator]

If these items were gifted to you five years before your grandfather began receiving SSI, then you need to take them out now, because they are yours.

If you are hesitant to move them because he or other famly members might "say something" then I am not real sure they were given to you as clearly as you say.

If it has not been five years, then by accepting and being placed on SSI, the gentleman has essentially lost his ability to gift anyone anything, as his monies are supposed to be used for his upkeep and care.

It certainly would be a questionable thing to transfer any of his estate, including home and property to others now while his is on Medicaid and SSI.