Legal Question in Elder Law in Ohio

Transfer on Death Deed Follo-up

I don't know if you accept follow-up questions to the answer I received in

www(.)lawguru(.)com (/)cgi (/)bbs (/) mesg.cgi(?)i=901541605

on 1/22/08 (I believe) which was answered by Nancy Fioritto Patete

but if so, can you please tell me if the parent transferring property to a child wants to preserve the property for the child (who would become owner upon parent's death) -and- parent (who is currently in good health) should become debilitated years down the road...would the property be lost if Medicaid were to have to take over any medical treatments?

Does a Living Trust or Life Estate (or some other legal instrument) accomplish preserving the property for the child...property which the child has lived in for decades and child has contributed to the property's upkeep and maintenance?

Thank you very much in advance for any assistance you can give in this matter.


Asked on 1/25/08, 12:00 am

1 Answer from Attorneys
Nancy Fioritto Patete Nancy Fioritto Patete, Esq.

Re: Transfer on Death Deed Follo-up

Yes it could. A transfer on death deed retains ownership in the transferor until that person's death. As long as that person is alive, the transferee has a future interest in that asset.

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Answered on 1/25/08, 7:34 am


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