long term care
how do we put our house into a trust, so that if we ever became ill, the state wouldnt take it, and leave our kids with nothing?
Asked on 2/26/09, 12:35 pm
1 Answer from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
Re: long term care
Good question - no satisfactory answer. However, don't panic. If you discuss this with a Florida elder law attorney, he will tell you that under current law, you do not have to sell or give your home away to qualify for Medicaid to pay for your nursing home costs. In fact, if you transfer it for less than it is worth, that will disqualify you for Medicaid for a loooong time. At death, your home will pass free of creditors, including Medicaid, if passing to your children.
Answered on 2/27/09, 3:16 pm
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