Legal Question in Wills and Trusts in Indiana

Re: Real estate transfer to our children

I would suggest you consult a local attorney for estate planning. In general the medicaid rules can disqualify coverage if assets are transferred or given away too close to the time coverage is sought. There are now specific safeguards in Indiana law for persons who own real estate and seek medicaid coverage, as to what property must eventually be used for your own care. I doubt you want a history lesson, but the original purpose of retirement laws and coerced attempts at having some money put away for old age was not to generate an estate to leave to your children but to provide for your own care in old age. Of course, not every one agrees with that theory any longer and most families do want to leave something more than memories to their children. Medicaid rules and regulations change from time to time and it is best if you check with your local attorney for the current application.