Medicaid: Jointly Owned Property

By: Patrick M. Simasko, Attorney at Law.  Shelby Township, Michigan.

In Michigan, if you are attempting to obtain medicaid benefits for your nursing home stay, you must be aware of a recent law change.  Historically, Michigan treated real estate and stocks that you own jointly with a person other than your spouse as being an unavailable asset.   The theory was that it takes all signatures to sell the property or the stock and since the Department of Human Services “DHS” cannot force the joint owner to sell their interest in the property it is unavailable. This Michigan Medicaid law has been changed effective April 1, 2011.  The DHS will treat your interest in the joint property or stock as a countable asset.