Posted on: 04th Jul, 2010 01:08 am
Hi. Friends dad owns his home and wants to make sure his kids can get it free and clear when he passes away. He just learned he has cancer and the bills will total over $200,000 way more than he has and is afraid if he waits they may try to take his house from him or prevent his kids from inheriting it. So this brings up a couple questions.
1. Can they just kick you out of a house you own free and clear if you start collecting high medical bills?
2. What would be the best way to transfer the property to someone else or your children if you want to do so before the bills start piling up?
3. Any other suggestions you would have?
Thanks for your help.
1. Can they just kick you out of a house you own free and clear if you start collecting high medical bills?
2. What would be the best way to transfer the property to someone else or your children if you want to do so before the bills start piling up?
3. Any other suggestions you would have?
Thanks for your help.
Hi wolfpack,
If your friend's father pays the medical bills on time, then the nursing home won't come after his property and ask his heirs to leave it. Your friend's father can use a ladybird deed in order to get the property transferred to his children. Transferring property through a ladybird deed won't affect his chances of getting a Medicaid. However, you need to check out whether or not the ladybird deed is valid in your state.
Thanks
If your friend's father pays the medical bills on time, then the nursing home won't come after his property and ask his heirs to leave it. Your friend's father can use a ladybird deed in order to get the property transferred to his children. Transferring property through a ladybird deed won't affect his chances of getting a Medicaid. However, you need to check out whether or not the ladybird deed is valid in your state.
Thanks
Hi. Thanks for the info. Quick note, the house is in washington state would the ladybird deed still work? Also the medical bills are for cancer treatments that are starting and not nursingn home bills would that change anything?
Thanks,
wolfpack1180
Thanks,
wolfpack1180
Hi wolfpack,
Ladybird deed is acceptable in the states of Texas, Ohio, Florida, California and Kansas. It is not available in Washington. Though the medical bills are for cancer treatment, I don't think it will change the scenario for you much. I would suggest you to contact a real estate attorney and discuss your situation. He may help you know what type of deed forms can be used in this situation.
Take care.
Ladybird deed is acceptable in the states of Texas, Ohio, Florida, California and Kansas. It is not available in Washington. Though the medical bills are for cancer treatment, I don't think it will change the scenario for you much. I would suggest you to contact a real estate attorney and discuss your situation. He may help you know what type of deed forms can be used in this situation.
Take care.