Posted on: 22nd Mar, 2010 08:33 am
Please clarify - - does the lady bird deed exempt an elderly's homestead from being taken from the heirs (all or part of it) after the owner's passing? I have an 81 year old Mother and 90 year old Mother-in-law. Both have homes, no lady bird deed for either, but both have willed the homes to their children. In case they are placed in a nursing home, what is the chance that the homes will have to be sold in order for medicare to be reimbursed after either of their death, if the estate doesn't have the means to pay it? Is there a way of avoiding the reimbursement for Medicare if either has to be placed in a nursing home? Why does Medicare have to be reimbursed nursing home fees? What is the advantage/disadvantage of having the Lady Bird Deed?
Hi rteacuppup,
Though both of them have willed their properties to their respective heirs, your mother and mother-in-law are the owners of the property. Thus, medicare will have the rights to take over their estates in order to recover their dues. A ladybird deed can be used in order to transfer the properties to the heirs. It will not create problems in receiving the medicare benefits. However, before transferring the properties, I would suggest both of them to have a word with their respective attorneys and take their opinion.
Thanks
Though both of them have willed their properties to their respective heirs, your mother and mother-in-law are the owners of the property. Thus, medicare will have the rights to take over their estates in order to recover their dues. A ladybird deed can be used in order to transfer the properties to the heirs. It will not create problems in receiving the medicare benefits. However, before transferring the properties, I would suggest both of them to have a word with their respective attorneys and take their opinion.
Thanks