if my name is on a deed with LIFE USE, if I needed medicad, could the government take my portion of the house?
Asked on 12/20/10, 7:16 am
1 Answer from Attorneys
If your interest in the house is a life estate, then you don't own the house--you merely have the right to occupy the home during your life. (I would have to read the deed to be sure.) Medicaid isn't interested in an asset that you don't own. The life estate interest is likely "not countable" for qualification purposes.
If you can't tell, Medicaid planning is fact specific, so I'm only giving a very basic overview.
Click here for my New York website.
Answered on 12/25/10, 8:43 am
Related Questions & Answers
-
My cousin was married to a man who recently passed away.she went insane and is now... Asked 12/19/10, 4:33 pm in United States New York Elder Law
-
I live in Queens, New York. My mother owns the house we live in. It is a four family... Asked 12/13/10, 5:38 pm in United States New York Elder Law
-
I have reason to believe that my parents have given my sister POA. I have been POA... Asked 12/07/10, 8:53 am in United States New York Elder Law
-
Can joint assets be transferred to the healthy spouse and still qualify for medicaid... Asked 11/24/10, 5:11 pm in United States New York Elder Law
-
Regarding my mother's house that is now in mine and my sister's name - since mom is... Asked 11/21/10, 3:41 pm in United States New York Elder Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
