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Transcript:
00:03 Yes, that is such a big question. Often people come to me and say, “Okay, my mom’s house is here and that’s all she has. Can she just get on Medicaid?” In essence, yes. Okay. Most states have the house as an exempt asset when a person needs to go into a nursing home and qualify for Medicaid. I always put an asterisk on that because in Illinois, we are what is called a recovery state. That means once mom goes into a nursing home, the house is there. It’s exempt, right? But when mom dies and the family
00:38 is about to sell this house, you will find a very unexpected surprise of the state of Illinois having a very big lean on the property to recover whatever they use to pay for mom’s care. So, it’s this like basically to me delayed. It’s just giving it to the state, giving it to the nursing home, but it’s just delayed. And here you’re thinking, “Oh my god, I’m going to have the house. We’re going to sell it. I’m going to get the proceeds.” You’re not. Okay? So, super crucial to come in and talk to us before you even
01:08 think about qualifying for Medicaid. Come in. Let’s figure it out first. Make sure we get the best plan in place so you can preserve the house. [Music]
