My Mother lives at home alone and my Dad is in a nursing facility with Alzheimer disease. Mom no longer has a driver's license but they have the one car. My Mother transferred the title of the car on her name but we want to either gift the car to my son or buy it out right. How can we do this without it affecting his Medicaid. If it does affect it, what is the most that will happen? The car is only worth $4K or $5K the most.
I should get the car valued properly and buy it from your mother. Much the simplest answer.
Does your mother have a preference?