Posted on: 16th Feb, 2009 08:18 pm
Mom has two properties and 20K cash. Needs help paying for skilled nursing home. She has Alzheimers and dementia. I have POA for her finances. Want to apply for Medicaid help with monthly expenses
Hi alansmith,
A property can be transferred to a trust through a quitclaim deed. However, transferring property to a revocable trust might not protect your assets from a lien. But gifting the asset to an irrevocable trust might help you protect your assets from medicaid claims.
You should consult an estate planning attorney as he would be the best person to guide you the right way.
A property can be transferred to a trust through a quitclaim deed. However, transferring property to a revocable trust might not protect your assets from a lien. But gifting the asset to an irrevocable trust might help you protect your assets from medicaid claims.
You should consult an estate planning attorney as he would be the best person to guide you the right way.