Hubby and I moved in with mom a year and a half ago and I am her caregiver. She currently does NOT need skilled care but as her health is getting worse, she might in a year or two. Mom's house is PAID OFF currently.
Here is what we want to do...
Hubby and I want to buy a property about an hour away in a bigger town and bring mom with us, either living in the same house or her own house next to us. The thought was hubby and I would buy the house with a mortgage, get moved, then eventually sell mom's house and use that money to pay off the new mortgage. The only difference now is that mom's name wouldn't be on the new property.
She's essentially moving her paid house to ALL of our paid house. How would that impact Medicaid should she need it in the future?
Medicaid has a 5 year lookback, using her money to pay for your house is gifting.
You need to pay for your house yourself and leave her money to care for her.
Have a consultation with any attorney, IMO that is the best option.
See an elder law attorney for options.
Moving in the direction you suggest would make mom self paying only if in need of care and you cannot tell at a second's notice if in facility care is needed.
Do not consider doing what you are suggesting.
This would be "gifting" on your mother's part to such an extent that she would never get help for her care from any governmental program. You may think she won't need it. But think again. She well may need it even WITH all the proceeds from sale of her home.
You badly need the advice of a competent elder law attorney in your area, not the many opinions of a forum, friends or neighbors. It's clear you don't know the drastic circumstances this could lead to that you cannot take back nor do over. Don't do this without seeing an attorney first.
Your Mom really should save the money from the sale of her house to use later for a really nice Assisted Living that also allows Medicaid after one has been self-paid in AL for a certain amount of time.
Time to set up an appointment with an Elder Law Attorney to guide you through this process.