Is property overseas taken into account in NY state to be eligible for Medicare
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Is property overseas taken into account in NY state to be eligible for Medicare
Can my parents be eligible for Medicare
to pay for nursing home if they still
have property overseas? Can Medicare
force them to pay for their care with
these assets in order for them to be
eligible for Medicare to pay for nursing
home?
Asked on October 29, 2017 under Estate Planning, Alaska
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
All assets, no matter where located, owned by someone needing or seeking Medicaid is taken into account--as a matter of law, overseas property is considered, or taken into account, too, though as practical matter, Medicaid or state agencies may not become aware of it. Legally, your parents should use these overseas assets (e.g. liquidate them) to pay for their care, too.
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