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Updated almost 9 years ago, 02/08/2016
Elderly Parent and Govt ability to take home for nursing home
Hello all,
I'm currently in the process of going in on the purchase of a home for my mother in the state of either Iowa or Nebraska. My brothers and sisters are wanting to purchase a home for our 65 yr/old mother. She has absolutely no money/retirement/assets and will be retiring next year. We plan putting all of us kids as well as our mom on the title. However my mom may be the only one on the loan, maybe another 1-2 of us kids.
I know that the fed can take her home to pay for the cost of the nursing home care if she doesn't have any money. My question is if all of us children are on the title will the fed govt still be able to confiscate the house if we had to place her in a nursing home? Are there any other ways around this? Thank you in advance.
Nate