Question: Can I keep my home and my farmland which is located about a mile from my residence and still be eligible for Medicaid to pay for my nursing home care?
Answer: As for your home and the surrounding property, up to $500,000.00, is protected during your lifetime if your spouse, dependent child or disabled relative lives there, or if you or your legal representative, the Medicaid applicant, express a desire to return to your home even if there is no realistic chance of going home.
Your home, however, may be the subject of Medicaid estate recovery after your death, your spouse’s death, and the death of your dependent or disabled child.
As for your farmland or other real property; generally unless it is “income producing” or “unavailable” because it cannot be sold. It will be counted as an available asset and you will not be able to keep it and be eligible to have Medicaid pay for your nursing home care.
A qualified elder care attorney may be able to help you “protect” all of your real property and be eligible for Medicaid at the same time. An elder care lawyer may also be able to protect your home from Tennessee estate recovery in certain situations.