Legal Question in Real Estate Law in Arkansas

Deeds

My deceased wife & I owned without mortgage a home with both names on the deed. She had 3 children previous to our marriage, I had one by previous marriage. Her children never lived with us but mine did. Her children have never been in touch since she passed away almost 6 years ago although two of them live within 30 miles of me, one in another state. I am nearing 71 of age and would like to deed the house and all household properies to my daughter in the event I should ever be confined to a nursing home. Is it possible to do this and give myself a life time dowery to live here as long as I am physically able or could I sell the house to my daughter for as little as $100 regardless of it true value? I have a retirement and social security the nursing home would get and dont see it as right that they could take the home and any inheritance that should be left to anyone else.


Asked on 5/23/06, 7:29 pm

1 Answer from Attorneys
Wayne Ball Ball & Stuart, PLLC

Re: Deeds

There are some things that you can do to protect your property, but giving away property without compensation will result in a penalty being imposed when you apply for Medicaid. Before doing anything you should contact an attorney knowledgeable in Medicaid planning.

Read more
Answered on 5/24/06, 11:55 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Arkansas