Audubon, NJ Estate Planning Law Firms & Lawyers

Medicaid does not "take" your home.  You need to be able to pay for the care that you are receiving.  If you are in a skilled nursing facilty, and are not likely to leave there, then the home is sold and the proceeds are used to pay for your care as the care is being received.  No one "takes" the home.  If your assets run out, and you still need care, then Medicaid will be available to pay for the care.  You should not worry about protecting your assets as much as you  should worry about having enough assets to provide the care you need in the setting that you want. 

I dont know if your mother has any assets ( home, pension plan, etc) but if she does, then maybe you and your siblings agree in writing that you will get a larger share of the remaining assets of her estate upon her passing to compensate you for the expenses incurred in caring for your mother. Since your mother has dementia, who has the power of attorney over her care and over her finances? Again, maybe you and your siblings can agree that you will be paid from her assets for the time spent and to be spent caring for her. 

The answers to this question depend on the mortgage, and the terms of the will.  The will may stipulate that the heirs take the property subject to the mortgage.  If that's the case, the heirs can take over the mortgage payments, but technically, the heirs should have the mortgage redone in their name.  Changing the title to the property could cause an acceleration of the mortgage and require immediate payment.  A bigger question becomes, what happened to the proceeds of the second mortgage?  Did the decedent take that in a lump payment and it went to other heirs?   Can the first and second mortgages be combined and refinanced?  Rates are good now and it might be worth your while to qualify and re-do the whole thing.