Protecting a House from a Medicaid Lien

[fastboyd]

My question involves a person located in the state of: NC

My grandmother is in an assisted living home currently. She is already recieving medicaid. The only asset she has now is her home. I've heard of "ladybird deeds" lately. Can that be done after medicaid has started? I really want to keep the property in the family. If there is a lien placed on the property, would the family be offered a chance to buy it once she has passed away?

[Mr. Knowitall]

If she's already receiving Medicaid, she's not going to be able to give away her assets to avoid having to pay for her care.

[fastboyd]

So in order to keep the house and land, we would need to purchase it at "fair market value"? How long after her passing do they have to place a lien?

[Mr. Knowitall]

If you purchase it at "fair market value", she'll have a pot of cash she'll need to spend down in order to qualify for continuing Medicaid benefits.

Medicaid is supposed to assert any claim against the estate within 60 days of the beneficiary's death.

[fastboyd]

Thanks for the info