Legal Question in Wills and Trusts in Illinois

Is it wise for the children to put their names on parents home before the parents die in case they go into nursing home so as to avoid losing the home to a nursing home.


Asked on 2/05/10, 12:39 pm

1 Answer from Attorneys
Gregory Turza Law Offices of Gregory P Turza

No, it isn't. The reasons are too numerous to mention here. But, first, do no harm. The home is an exempt asset of a married couple. If they gift it to children it will result in the imposition of a period of inelligibility or a penalty period. In other words gifting the home may delay qualification for Medicaid.

Feel free to visit my website: www.legacylaws.com.

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Answered on 2/10/10, 1:06 pm


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