Can we build a house using my parent's ( age 86 and 79) saved money to avoid future nursing home fees? It would be their primary residence? Thanks
Asked on 1/24/10, 9:15 am
2 Answers from Attorneys
Elizabeth Karnazes
New York Offices of Elizabeth Karnazes
If they agree, certainly, but be aware that long term health care needs should be considered. Please, excuse any typos,as tying is not my strong suit. Good luck!
Answered on 1/30/10, 1:26 am
Richard Bryan
Richard Bryan Attorney PC
Great idea. So you are looking to take non-Medicaid exempt cash and turn it into a Medicaid exempt asset, and then eventually inherit the new house. Wonderful strategy; you should go to law school, or CSI. I don't know the answer, but if you pay me I'll research the idea and write everything down for you.
Good luck.
Rick Bryan
New York, NY
Answered on 1/31/10, 7:59 am
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