Posted on: 10th Jan, 2014 12:41 am
I took care of my father for the last few years. He is now in nursing home. Can I still live in his property and keep it forever?
If he goes on Medicaid, then you may not be able to save the property. It might have to sold off to pay off the Medicaid expenses.
Welcome Guest,
I agree with what Niicss has said. If your father goes into Medicaid, then you will not be able to save the property.
I agree with what Niicss has said. If your father goes into Medicaid, then you will not be able to save the property.
Does he own the home out right? Do you have siblings that may contest this if he dies? If he owns free and clear and you are the only one with a claim to the property (rightful heirs) you can stay there as long as you pay the taxes - I would check into how to put the home in your name as it is usually not too difficult when transferring from parent to child - you may want to ask him to do this while he is still around as it is easier this way I believe - also check with a tax person to see what works best as you may get taxed if he gifts it to you prior to his death.
Brian Barnes
ENG Lending
Nationwide Lender
Brian Barnes
ENG Lending
Nationwide Lender
