Legal Question in Wills and Trusts in Virginia

Inheritance/Transfer of ownership???

An elderly family member has informed me that they are leaving an old home to me in their will. No one lives in the house atm and we are currently undertaking extensive renovations of the home and will move in upon its completion which will likely be before her death. We have discussed the possibility of her going ahead and deeding the house to me instead. This is what I would like because I am concerned about other close family members who are very upset that I am going to get this house. She is concerned that deeding the house to me will affect her Medicare/Medicaid benefits, which I know nothing about. Can deeding this house to me affect her in a negative manner re:benefits. She is in her 70's and owns no other homes and lives with a friend in town. Can these angry family members contest the will upon her death? We are sinking large amounts of money into these renovations and I am worried that perhaps somehow we will run into trouble down the road. Thank you for your time.


Asked on 6/29/07, 4:07 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Inheritance/Transfer of ownership???

I doubt that deeding the house to you

would in any way affect this elderly relative's Medicaid/Medicare eligibilty unless she were to receive a sizeable remuneration in return. However, it would certainly have tax consequences for you since you would not be able to claim the stepped up basis which goes with inherited property but rather as a deed of gift you would assume your relative's basis which could at some point mean a considerable increase in your capital gains tax liability than if you had taken title to the property by inheritance.

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Answered on 6/29/07, 8:18 pm


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