Is there any way to keep Medicaid benefits if Im disabled and receive an inheritance?
Question Details: I am disabled due to severe osteoarthritis. I've undergone 14 surgeries so far and I need more surgeries soon and most likely more in the future as more joints and parts of my body start to fail. Im currently living with my father, however soon he will be moving into assisted living and I will need to find housing for myself and son. The sale of the house will be split, some goes to continued care to keep my father in assisted living, my brother receives some, and I will receive some to live on to Pay rent, groceries, etc. what I'm afraid of is losing my Medicaid benefits because the inheritance will put me way over Medicaid's limit and I will lose my benefits. The sum I will receive is approximately $30,000 which will just about cover living expenses for a year. Yet, its no way near enough to cover even one surgery. What can I do?
You can "disclaim: or refuse the inheritance: you can't be made to inherit or accept money against your will. If the inheritance you'd get is worth less to you than the value of the benefits (e.g. Medicaid) you'd give up by accepting it, this is a logical thing to do. You would have to disclaim properly in writing--you should be able to get instructions on how to do so from the probate court. If you do this, the inheritance does not go to you (your share will be split between the other heirs/beneficiaries) and will not count against you.
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