Can I Sell My House or Car While on Medicaid in Florida?
When you get to the point of needing Medicaid for your long-term care needs, you may wonder if you can sell your house or car while on Medicaid and still maintain your eligibility.
In Florida, the short answer is yes... and no.
If Medicaid is paying for your home health care, ALF care, nursing home, or medical bills, that probably means you have significant care needs, and you may not be able to drive anymore. Your community spouse taking primary care of you might not be able to drive anymore, either.
Or, if you are in an assisted living facility or nursing home, you may not be able to keep up with your home. Maybe you don’t want to pay taxes on a home you aren’t living in, or the maintenance on your house or condo is no longer affordable.
If you want to sell your home or your car while on Florida Medicaid, you’ll need to plan to maintain your eligibility.
That’s where the team at Elder Needs Law can help with your Florida Medicaid planning.
You will not likely qualify for Medicaid assistance after selling your house or car because Florida Medicaid has a $2,000.00 asset limit.
There are many Medicaid planning or Medicaid preservation strategies available, should you want to make a significant sale. Your eligibility depends on many factors, including how much you net after the mortgage is paid off or after the car is sold.
To protect your eligibility for Florida Medicaid benefits, you should reach out to an elder law lawyer before you begin the sale process. This way, they can adequately plan different aspects of your estate and help you retain your long-term care benefits.
Luckily, there are multiple ways to protect Medicaid after selling an asset. But it’s not as simple as selling your home and giving the money to a loved one. Medicaid has anti-gifting policies that would disqualify you from benefits. But plenty of other legal and ethical Medicaid planning strategies will allow you to sell assets such as a car or a house and maintain Medicaid long-term care and eligibility.
That’s where the Medicaid planning attorneys at Elder Needs Law can help. We are experts in Florida Medicaid planning.
Medicaid Planning in Florida With an Experienced Elder Law Attorney
The team at Elder Needs Law PLLC are here to help you sell your house or car and maintain your eligibility for the Florida Medicaid program.
They do that by talking to people like you before selling a significant asset like a home or car. The team at Elder Needs Law will speak with you about what kind of profit you think you will receive from the sale, and together, they’ll work out the right strategies and documents for you to retain your Medicaid benefits and stay under the asset limit.
We use many legal and ethical strategies to help people like you protect their assets while receiving Florida Medicaid.
If you need help with your Florida Medicaid planning strategy or assistance, contact us today. We serve all of Florida, and as top elder law attorneys, we’re here to help.