Legal Question in Wills and Trusts in Alabama
My mother is getting older and wanting to ensure that she doesn't lose everything should she have to go into a nursing home. I know in most cases, a transfer must be done 5 years prior to being put in a nursing home. My question is this, what if she sold the home to myself. Would this work?
1 Answer from Attorneys
Elder law planning in conjunction with Medicaid is not something to guess about and try to do yourself. You need to consult with an Elder Law attorney if you want to protect assets. Timing is critical as is strategy. You might be able to pack a parachute right the first time you did it but how certain would you be to use it? The same theory applies to Medicaid planning. By the time you realize a mistake has been made it it too late to do anything about it.
William G. Nolan
www.NolanElderLaw.com
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