Transfer of Property
My parents want to put their home in a living trust to avoid probate. With their income being limited, if they should ever have to live in a nursing facility (due to health issues, etc),. and needed to apply for medicaid, would their home be exempt (not considered a valuable resource) if it is part of their living trust? Or, should they just transfer the home over to the child that lives with them (actually takes care of them.
Asked on 12/01/05, 12:56 pm
1 Answer from Attorneys
John O'Donnell
Attorney at Law
Re: Transfer of Property
Your question is not a simple one that can be answered via email. For example, you cannot simply transfer property to qualify for Medicaid. I would recommend that you consult with an "elder law" attorney.
Please feel free to contact my office.
Answered on 12/01/05, 2:05 pm
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