A client recently had the issue of planning for Medicaid for his mother who needed Nursing Home care but had limited assets. \u00a0One fly in the ointment is that the family had sold mom’s home on a land contract. \u00a0The issue is how does Michigan Medicaid treat that land contract.<\/p>\n
To qualify for Medicaid in Michigan to receive funds to help pay for nursing home care, a single individual or widow can only have $2,000 worth of countable assets.<\/p>\n
The answer is….it depends. \u00a0Just like many legal questions there are a number of factors in whether the land contract is an income stream or an asset.<\/p>\n
A seller’s interest in a land contract is typically viewed as an asset according to the BEM (the manual case workers use to administer Medicaid in Michigan). \u00a0The value (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A client recently had the issue of planning for Medicaid for his mother who needed Nursing Home care but had limited assets. \u00a0One fly in the ointment is that the family had sold mom’s home on a land contract. \u00a0The…<\/span><\/p>\n