My question involves estate proceedings in the state of: Calif
Hi, we had some questions regarding our situation and the new Medi-Cal Recovery Laws going into effect Jan. 2017. My brother (55 years old) and I (57 years old) own our home.... tenacy in common....Joe has 80% I have 20%. The home is owned free and clear. Neither one of us has children. Joe is on SSI and Medi-cal due to cirrhosis of the liver. One of his new prescriptions Vitamin K costs $2200 a month! Incredible...we were shocked!
I am on Medi-cal as of last year….so far I have only used my Medi-cal for a few visits to the dentist.
1. As I understand it, if a sibling has been a caregiver and lives in the same house as the Medi-cal recipient for 2 years, the home isn’t subject to Medi-cal recovery. I also read online that only long term care (nursing homes) were subject to recovery under the new law.
2. Currently the home is Joe 80% and myself 20%...we would like to change that to 50/50.
3. We were thinking of taking a Home Equity line of credit out on the house. Joe has very good credit. I do not. I have an unpaid student loan of $2000 from 25 years ago. We would pay this off with the HELOC and help pay our monthly bills.
We are low income. Joe gets his SSI. I have been Joe’s caregiver through IHSS. We also have an ebay store which provides a small income.
We were wondering how this would effect Joe's SSI and Medi-cal?
Would it be a good idea to get a HELOC on the house? Neither of us has children to leave the house to. We might as well use some of the equity in the home to live more comfortably.