Question: Is there a waiting period or penalty if I sell my mother’s house and car ($90,000), so she can qualify for Medicaid to use for assisted living or a nursing home?
Answer: No, there is no transfer penalty or waiting period if an applicant for Medicaid benefits sells property at fair market value and then spends the funds on her own needs (or if her agent does so on her behalf). But the applicant needs to be able to demonstrate that the property was sold for market value and how the proceeds were spent. For information on how to spend down assets, click here.
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