Both my husband and self are on Medicare Disability/Medicaid for almost 10 years now. We have both been treated for cancer in the past and he is in current treatment again. We have no estate plans and our only assets are a small ranch style home and vehicle. We have 5 amazing young adult kids and all we have to leave them when we're gone is this modest home that they could sell. I know this should have been done years ago, but I'm trying now. So...does anyone know if I file a TOD, and one or both of us end up at some point in skilled care (nursing home) will they get the house or will Medicaid take it as estate recovery? (We are in Wisconsin)
My children do not expect anything more than the love they do already feel from us, that I know. Both my husband and self have already been covered my Medicaid for 9+ years as we are both stage 4 cancer patients but holding our own. I have not needed active treatment for almost 2 years but my husband is currently in the middle of a new chemo routine once again. My kids have been a tremendous support through it all at a time in their lives when they were graduating, getting married, having babies, and becoming the amazing young adults that they are. I just wish I had made arrangements earlier as though it would not be a windfall in any sense of the word, it may mean an extra family vacation or celebration on my behalf...something I was never able to give them. The program itself and tax payers who support it do also deserve though as you say, because without this program my healthcare options would have been limited. Thank you for your response, I will continue to research my legal options. Be well...
Here is Wisconsin information that might help you. Go down to 7.b
where the Medicaid caregiver child exemption is discussed.
This is not what you asked for but it is a justified way your child could retain the family home instead of paying others to care for you.
If your adult child lived in the home and provided the care you or your husband required that kept you from requiring NH care for at least two years prior to Medicaid funded care, then that can be an exemption.