Posted on: 17th Jan, 2013 07:06 pm
My mother in law will need to go to a nursing home before too long. We live in NC. My wife went to a NC attorney and he is recc. we do a Lady Bird deed. However, the last post here says that a Lady Bird deed is not valid for NC. Can someone confirm yeah or nay? If it is valid in NC, and we do a Lady Bird deed, does the Medicaid 5 year waiting period still apply?
Should we rent the house once she moves to a nursing home? My wife's cousin has taken care of her for a good while. Could she move into the house to get the 'relative' exemption, or does it have to be a closer relative?
Should we rent the house once she moves to a nursing home? My wife's cousin has taken care of her for a good while. Could she move into the house to get the 'relative' exemption, or does it have to be a closer relative?
Hi jboone,
Rules and laws may keep on changing. You can get in touch with your real estate attorney and confirm whether or not the ladybird deed is now valid in NC. If yes, then you can go ahead with the deal. Your wife's cousin can move into the huose and can get the "relative" exemption.
Rules and laws may keep on changing. You can get in touch with your real estate attorney and confirm whether or not the ladybird deed is now valid in NC. If yes, then you can go ahead with the deal. Your wife's cousin can move into the huose and can get the "relative" exemption.
It is my understanding that "Lady Bird Deeds" are used in North Carolina. There are Medicaid transfer penalties in North Carolina. You need to speak with an attorney that specializes in this area of the law.