The hole is one of the largest possession you are allowed to own and stagnant answer for Medicaid sum of money of your care home bills. Under recent national law trenchant Jan. 1, 2006, the equity in your sett will be lock, stock and barrel let off from count in opposition you for Medicaid eligibility purposes, if your equity does not exceed $500,000. (Under the national law, each democracy has the route of adopting a higher exemption, up to $750,000.) In addition, if your relative continues to be in the house, it will be not liable no issue how noticeably it is deserving.
But let's say your residence is exempt, and you are in a tending residence. Must you supply your home? No, it will nearly ever stay exempt, even after you displace into the nursing home, so bimestrial as you have the "intent to tax return." This intent can be uttered either by you (the personage in the tending domicile who is acceptance Medicaid) or by a social unit beneficiary. Of course, if your relative is sentient in the home, it will be let off no event what your "intent" may be.