Many clients in Los Angeles that are Medi-Cal beneficiaries are worried about being on Medi-Cal and what will happen to their hard earned asset….their house!
They want to know if the state (California) will “take” their homes after they die if they have been on Medi-Cal benefits.
The State of California does not take away your home exactly! However, your home can be “subject” to a Medi-CAL Estate Recovery Claim after your death. This ONLY HAPPENS when your home remains in your name when you die!
Medi-CAL Estate Recovery… “the State” will make a claim against “your estate” (any asset in your name at the time of your death) for the entire amount of the Medi-Cal benefits paid or for the value of your estate, whichever is less. So to protect your home “from being taken by the State of California”, you must move your home from your name BEFORE YOU DIE OR LOSE MENTAL CAPACITY.
There are many ways to do this, but you must be careful to avoid possible capital gains for your children or beneficiaries. We highly recommend that you discuss this with only an experienced elder law attorney that can guide you through your options. Be careful of online legal services, regular estate planning attorneys, friends of the family referral lawyers, social; workers, etc. Many people make the mistake of getting the wrong advice! There are many thing our Los Angeles Elder Law attorneys can counsel your family on doing.
Truly the only professional that you should trust and can help you in getting help to pay for your medical or long term care costs that has the proper understanding of the benefits versus the consequence is an Elder Law Attorney.
Los Angeles Elder Law Attorney, Joe McHugh has dedicated the main part of his practice to serving the needs of seniors and their families with the legal and asset protection issues that you need to know as you grow older.
We are happy to personally speak with you on the phone or in person at no charge to see if we can help you or your loved ones! Call 818.241.4238!