Saving Your Home With Medicaid in Buffalo
If you require nursing home care, your home can be transferred to certain relatives without disqualifying you from Medicaid. The five-year look-back period does not apply to transfers of your primary residence to:
- Your spouse and minor, disabled or blind children.
- Your sibling with an equity interest who has resided in the home for at least one year immediately prior to the date you became institutionalized and who continues to lawfully reside in the home.
- To a caretaker child who has resided in your home for at least two years immediately prior to the date you became institutionalized.
If you are unable to sign the deed, only your power of attorney (POA) or Article 81 Guardian can make the transfer. However, not all powers of attorney authorize such a transfer. For powers of attorney executed on or after September 1, 2009, a Gifts Rider must be signed before two witnesses to authorize such a transfer. For POAs signed before that date, gifts must be specifically authorized. Consult with an attorney to have a proper POA prepared or to review your current POA.
If you or a family member need assistance with estate planning call me at (716) 542-5444.