Posted on: 08th Apr, 2010 11:04 am
I have been told to put my home into my dtr's. name using a Lady Bird Deed in order to protect it from Medicaid penalty.
We currently live in the home together and the Deed is held in both our names and the 5 year time limit for exemption from Medicaid forcing her to sell it will be up in Sept. of this year.
What should I do in the event I require nursing home service before I die? I have had so much conflicting advice.
Cindy
We currently live in the home together and the Deed is held in both our names and the 5 year time limit for exemption from Medicaid forcing her to sell it will be up in Sept. of this year.
What should I do in the event I require nursing home service before I die? I have had so much conflicting advice.
Cindy
Hi Cindy!
Welcome to forums!
As far as I can understand, it would be a good option to transfer the property using a ladybird deed. As per my knowledge, transferring property through a ladybird deed will not affect your changes of getting medicaid. You can check out the given page in order to know whether or not medicaid is affected by ladybird deed:
http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html
Sussane
Welcome to forums!
As far as I can understand, it would be a good option to transfer the property using a ladybird deed. As per my knowledge, transferring property through a ladybird deed will not affect your changes of getting medicaid. You can check out the given page in order to know whether or not medicaid is affected by ladybird deed:
http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html
Sussane