Is it fraud to have my husband take his name off the deed of the house and have me the sole owner? I am thinking I better do this while he still has his right mind. Yes, I am trying to avoid paying for the NH should he ever need it. I know it's a 5 yr wait/lookback. But I don't want to commit fraud and I don't want to go to jail. Right now I own half of the house and he owns the other half, so to speak. Is it fraud to take his name off the deed?
Plus for Medicaid if married all assets looked at. Even those owned by 1 spouse.
Medicaid planning for CS situation is complex and not ever a DIY imho. Really gather up all your financials and work up a “face sheet” on you & hubs and schedule an appointment with an atty. Personally I’d go with one CELA or NAELA.
I think CO has “enhanced life Estate” deeds, aka Lady Bird Deed. I’d suggest you ask the elder law atty if so and if that would be a option for your & hubs and heirs overall situation.
BUT Please please please keep in mind that although you are focused on financials, Medicaid requires BOTH medical and financial “at need”. Just being old, iffy on ADLs, too much care for you to deal with, needs medication management, etc. may NOT be enough to show to be “at need” for a skilled nursing care aka a NH. CO Medicaid may not cover AL or the Medicaid AL waiver program has a narrow enrollment so there’s a waiting list which means months or a couple of years of private pay at the AL before a Medicaid waiver bed becomes open. Or CO Medicaid waivers are doing PACE type of community centers based programs that need to be tried before a NH placement can happen, that means he’s at home till documented to be at need for a NH. Really the atty will have info on what’s what for CO plus things that factor in for couples that you’ve not thought of, like you predecease him.....
Again couples Medicaid planning not a DIY. If you are overwhelmed on all this and all the acronyms are confusing, one of the expects on this site, Gabriel Heiser, has a great easy to understand book on Medicaid and Medicare. “Medicaid Secrets”. It’s on Amazon and at most libraries. Solid info. You might want to get it do you have a better idea of what options are. & good luck.