Posted on: 02nd Sep, 2011 08:41 am
Hi,
I have been reading your responses concerning the LBD. I am a little confused on the best avenue to take. My mother is considering an application for Long Term Care options Form H1200-EZ. Prior to her signing it states the acknowledgement of the Medicaid Recovery Program. Will the Lady Bird Deed prevent this recovery program from taking place? I believe she is trying to save about $98.00 a month by doing this. Any help is appreciated. Thank you
I have been reading your responses concerning the LBD. I am a little confused on the best avenue to take. My mother is considering an application for Long Term Care options Form H1200-EZ. Prior to her signing it states the acknowledgement of the Medicaid Recovery Program. Will the Lady Bird Deed prevent this recovery program from taking place? I believe she is trying to save about $98.00 a month by doing this. Any help is appreciated. Thank you
Welcome rnic,
As far as I know, in case of a ladybird deed, the home may be considered as an exempt asset for Medicaid eligibility as long as the spouse or a relative of the owner occupies it when the owner of the property is not around. To know more in this regard, please check out the given page: http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html .
As far as I know, in case of a ladybird deed, the home may be considered as an exempt asset for Medicaid eligibility as long as the spouse or a relative of the owner occupies it when the owner of the property is not around. To know more in this regard, please check out the given page: http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html .