youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The discussion seems to be missing OP's issue: How can the repayment of 83% of the pre-sale repairs from the IL's to OP be documented as repayment of a loan and not be considered a gift? This would be important to protect the IL's from problems with the so-called "look back" period for Medicaid if that need arises.
Example: MIL goes into memory care as a private pay client a year from now. After two years, the IL's stash from selling the house is depleted and MIL should be transferred to Medicaid funding. But there is a wrinkle....... the check written to OP looks like a gift within the five year "look back" period and Medicaid complications evolve.
Is that correct OP? Is that the issue you're trying to avoid?
Example: MIL goes into memory care as a private pay client a year from now. After two years, the IL's stash from selling the house is depleted and MIL should be transferred to Medicaid funding. But there is a wrinkle....... the check written to OP looks like a gift within the five year "look back" period and Medicaid complications evolve.
We are now thinking we made a mistake by not getting some type of written agreement, just in case something happens to them, and even more importantly, so that the IRS could not look at that money as something they were trying to hide from their estate, were they forced to go on Medicaid in a nursing home.
Is that correct OP? Is that the issue you're trying to avoid?
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