My mom lives alone and is almost done paying off her home. She recently had a bad seizure that left her unable to walk and have limited mobility. If she goes into a long term nursing home, and applies for Medicaid to pay 100% would I be able to re-finance my mom's home under my name and sell the home to save for my mom's future? I would need to sell her home because she has no life insurance.
Mum's funds will not be available for covering insurance property taxes, maintenance etc on her house.
If you have POA and can sell her house now, you can pay for her funeral expenses, stock her up with new easy to wear clothing, toiletries etc. But you cannot shield her assets to avoid paying for care.
You can "buy" Moms house at Market Value. That way her mortgage will be paid off and the proceeds will go for her care. If she has a car, that too will need to be sold at Market Value. Medicaid has very strict rules and a 5 year look back.