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So what to do? Blue book value us based on "average", moms car could be worth less than 5k. The car could be appraised in value. A used car lot dealer could do this; if its had a lot of repairs done, high mileage or been in an accident, you could provide those details with documentation to dealer so that a more specific to the condition of moms car value determined. Value could be less than 5k and you get this in writing as establishes its market value specific to this car. It's kinda like getting valuation for probate, in that the executrix could just accept tax assessor valuation on a house or car but what is better is to have property or car inspected & then appraised to get value specific to condition of the asset done instead to enter into probate for a more accurate valuation at time of death. So let's say you do this and car comes in at $ 3,800 in writing.
Then to me theres 2 options:
mom sells the car to whomever for entire $ 3800 at the beginning of the month and mom spends all $$ entirely within this month on a pre-need no cash value funeral policy of $3800 so she ends the month totally poor again; all $ spent within the month. Funeral & burial are easy to do & FH can do all within days. Simple & done!
OR whomever in the family can buy the car under a legal contact over time from mom with the payments with interest based so that the amount paid each month keeps mom under Medicaid asset & income limits. This is lots more cumbersome. & whatever the case you MUST run this proposal by moms caseworker for their OK.
So for the latter approach let's say appraisal comes in at $ 3,800. Mom has in her savings 1k, so mom still has the ability to have another 1k as assets & be ok for medicaid. Mom gets $ 800 a mo SS and another $ 500 a mo from retirement. So mom has $ 1300 a mo income. Moms state has medicaid maximum monthly income as $2100. So mom could in theory make another $799 a mo and still be within Medicaid monthly income limits. Granddaughter buys moms car for $3800 done via a contract drawns up, signed and notarized in ID where mom lives in her NH with $ 800 as the downpayment (which goes into moms asset kitty held in moms checking account) for month 1 and then pays mom each month after $ 250 till car is bought in full. That $ 250 plus interest mom must pay to the NH as part of her required monthly income copay under Medicaid rules. Grandaughter does this for 12 mos and then owns car outright & all within Medicaid limits & compliance. Caseworker may not approve this as no guarantee for kid to follow through. And all will need to be detailed & documented in any annual Medicaid renewal done by the DPOA.
Either way there's a solution. Good luck!