Who is responsible for taxes and insurance if owner is on Medicaid?
My husband will inherit some land from his family. His father has a life estate, but is in the nursing home. He is about to go on Medicaid. Who will be responsible for the taxes and insurance of the land while he is alive?
Tags: Insurance, Medicaid, owner, responsible, Taxes
The owner will. Him being on Medicaid or Medicare doesn’t change anything. If the taxes don’t get paid they will take the land.
the taxes are the responsibility of the legal deeded owner – however family can work out situation where another person takes personal responsibility even though it is not the legal responsibility.
My father after my mother died deeded some property to me and my sibs. but he still paid the taxes until her died. My parents paid taxes on property that was in my grandmothers name for a while when she was in the nursing home so that the taxes would be paid because they where to get the property when she died.
The life estate pays the taxes and insurance. If there is no money then the property is sold
Is it your husband, his father or both who is on Medicaid? Someone has to pay the property taxes or the state can take the land. If your father-in-law is on Medicaid he probably doesn’t have the income to pay the taxes. As for insurance, that’s between the owner and the insurance company.
The property owner of record is responsible – be it an individual or a trust/life estate.
The titled owner is responsible for taxes and insurance.
Your husband doesn’t inherit (ever), until the person he inherits from is deceased. Not having any idea who the titled owner is, that owner has to pay taxes. Insurance is always optional, not required.
Also, medicaid will put a lein against all the father’s assets, and go back five years to see if there were any transfers in the family – so that land might NOT be going to hubby after all.
Unfortunately for him, it will probably be necessary to sell the land and use the money for nursing home bills that would otherwise be paid by medicaid. Whoever buys the land from him will then be responsible for any future taxes on the land and for insurance for it.
Anyone in the family who can pay it, should. If the land is in his father’s name, the father is legally liable but your husband can pay it for him.