kimberlylarae
Junior Member
What is the name of your state (only U.S. law)? Wisconsin
I have been on SSI and Social Security Disability, Medicare and Medicaid for about 10 years. (Just SSI before that for 25 years.) I'm 53. I own a home along with my mother that my grandfather left us. My sister is living in it right now. I want to sell it. My mother doesn't want to live in it and she is afraid to sell it because she believes she will lose her Medicaid. She is retired, she gets Social Security, Medicare and Medicaid. She has no other assets, and neither do I. I have been staying with her. I intend to move into an apartment of my own soon. We keep our finances separate, I pay half her rent and cable/phone right now. She gets about $700 a month is Social Security. I get $765 a month.
I would like the truth about what would happen to her benefits and mine if I do succeed in selling the house. The house is in terrible shape, my sister has basically destroyed it. It was worth about $70,000, or maybe more, when grandpa died, it's probably worth maybe $20,000 if that now. The property-- 2city lots-- that it sits on is probably worth more than the house itself.
I have literally nothing, so I need everything for a first apartment--furniture, TV, kitchen things, washer & dryer, etc. So the money isn't going to last long. I will need some sort of rental assistance--HUD section 8 maybe--in order to pay rent and utilities. I'm worried that my mom won't be able to pay her rent, etc. after I move out.
Mom is convinced, mainly from what my sister has told her to keep her from selling the house, that if she sells the house the state will "step in and take the money away" from the sale of the house, in her words, and she will lose all her Medicaid and won't have any way to get her medication or go to the doctor. And I know from experience nothing is going to change her mind. So I feel that I have mom sign off on the deed, I could sell the house and might have enough to buy what I need and might have $2,000 left in cash assets left for myself and would be able to give my mom $2,000 cash to help her. I believe we are allowed that much in cash assets before we start losing benefits, like Medicaid. And, provided I can get my sister removed from my house, that would be the best course of action. I also feel that if I leave mom on the deed, and don't sell, and she needs to go into a nursing home (she is showing signs of mental decline) it's going to complicate things even further.
Would I be allowed a period of time to "spend down" the money from the sale of property? How much would we lose, if anything?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
I have been on SSI and Social Security Disability, Medicare and Medicaid for about 10 years. (Just SSI before that for 25 years.) I'm 53. I own a home along with my mother that my grandfather left us. My sister is living in it right now. I want to sell it. My mother doesn't want to live in it and she is afraid to sell it because she believes she will lose her Medicaid. She is retired, she gets Social Security, Medicare and Medicaid. She has no other assets, and neither do I. I have been staying with her. I intend to move into an apartment of my own soon. We keep our finances separate, I pay half her rent and cable/phone right now. She gets about $700 a month is Social Security. I get $765 a month.
I would like the truth about what would happen to her benefits and mine if I do succeed in selling the house. The house is in terrible shape, my sister has basically destroyed it. It was worth about $70,000, or maybe more, when grandpa died, it's probably worth maybe $20,000 if that now. The property-- 2city lots-- that it sits on is probably worth more than the house itself.
I have literally nothing, so I need everything for a first apartment--furniture, TV, kitchen things, washer & dryer, etc. So the money isn't going to last long. I will need some sort of rental assistance--HUD section 8 maybe--in order to pay rent and utilities. I'm worried that my mom won't be able to pay her rent, etc. after I move out.
Mom is convinced, mainly from what my sister has told her to keep her from selling the house, that if she sells the house the state will "step in and take the money away" from the sale of the house, in her words, and she will lose all her Medicaid and won't have any way to get her medication or go to the doctor. And I know from experience nothing is going to change her mind. So I feel that I have mom sign off on the deed, I could sell the house and might have enough to buy what I need and might have $2,000 left in cash assets left for myself and would be able to give my mom $2,000 cash to help her. I believe we are allowed that much in cash assets before we start losing benefits, like Medicaid. And, provided I can get my sister removed from my house, that would be the best course of action. I also feel that if I leave mom on the deed, and don't sell, and she needs to go into a nursing home (she is showing signs of mental decline) it's going to complicate things even further.
Would I be allowed a period of time to "spend down" the money from the sale of property? How much would we lose, if anything?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?