My 82 yr old mother owns mineral rights in MT & ND. It appears she may need nursing home care within the year. My question is; can Medicaid force the sale of mineral rights before she becomes eligible for coverage?
Thomas:
I have no idea how mineral right ownership plays into the medicaid laws but if it were me, I would get in contact with a medicaid attorney in either ND or MT. If she owns numerous acres in both States, it might be well worth your time and money to get these answers and legally protect your family assets.
Charles, It plays into it because of Medicaid's net worth limitations.
charles s mallory said:
Thomas:
I have no idea how mineral right ownership plays into the medicaid laws but if it were me, I would get in contact with a medicaid attorney in either ND or MT. If she owns numerous acres in both States, it might be well worth your time and money to get these answers and legally protect your family assets.
20 years ago, my dad who had guarianship over his sister(she lived in a care facility) and he had to sell her minerals in order for her to get medicaid. This was in North Dakota. Later on my dad turned over his minerals to us kids so he could go to a nursing home later on, as he used medicare and or medicaid. This is also in North Dakota. I do know he had to sell his sister's minerals in order for her to use medicaid. Imagine this, 20 yrs ago Dad could hardly give her minerals away, no one wanted them. Too bad we could not forsee what oil would do later on!
Medicaid and Medicare can't even take care of their own business in a timely fashion. How do you expect them to take care of your Mothers business? Why don't you and your family buy them from her or get them transferred in your names so you want have to deal with this at a later time? and they won't be an Issue!
Charles, Michael & Ardis, thank you for your responses. You have all been helpful.
Tom
Joel, Thanks for your reponse. The Rights actually belong to my mother. I have looked at the doing a Quit Claim. However, Medicaid has a five year "look back" period to prevent people from giving away assest in order to qaulify for coverage. If it is determined an assest has been given away, Medicaid will deny her coverage for a penalty period based on their appraisal of the assest. So, we are in the process of having the Rights appraised. We will then buy them from her and it should all work out. I have 4 siblings and fortunately we are all working cooperatively on this matter. Tom
Be careful of the timeing if you transfer them. They Have a 5 year look back period and will punish transfers. Your betterr off buying them.