Legal Question in Elder Law in North Carolina

We are 1. considering purchasing a home with a reverse mortgage or

2. purchasing a home and considering a reverse mortgage later.

Is it possible to protect our home and assets with the proper documents? If a spouse has to go into a nursing home in the future (Medicaid) will the home still be protected for the remaining spouse?


Asked on 8/21/09, 6:59 pm

1 Answer from Attorneys
Dennis Toman The Elderlaw Firm

The residence in NC currently is protected for the surviving spouse, if one spouse needs Medicaid for nursing home care. However, the home is at risk for estate recovery if the ill spouse survives, or after the surviving spouse's death if the surviving spouse ever needs nursing home care. Everyone's situation is different enough that you should consult a lawyer for the proper planning in your particular situation.

Read more
Answered on 8/24/09, 9:51 am


Related Questions & Answers

More Elder Law questions and answers in North Carolina