Posted on: 26th Mar, 2010 09:51 am
My mom & dad own their house free & clear in Maine Mom is 82 & dad is 88. My dad has altzheimers & there is the possibility he may need to go into a nursing home. They both have private insurance & medicare/medicade insurance. If later on we cannot afford the nursing home for my dad, the state can take 1/2 the house to pay for the costs of nursing home. We want to take the property out of my dad's name and put it only in my mom's name. In Maine, the property would have to be out of dad's name for 5 years for the state not to take 1/2 of it. Can the property be taken out of dad's name & put only in mom's name even though they are still married?
Hi nroberge!
Welcome to forums!
The property can be taken out of the father's name. Your father can sign a quit claim deed and transfer the property to your mother. However, if your father is planning to take medicaid benefits, then this transfer of property can make him ineligible for the benefits. I would suggest you to have a word with your attorney and then take a decision.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The property can be taken out of the father's name. Your father can sign a quit claim deed and transfer the property to your mother. However, if your father is planning to take medicaid benefits, then this transfer of property can make him ineligible for the benefits. I would suggest you to have a word with your attorney and then take a decision.
Feel free to ask if you've further queries.
Sussane