Posted on: 13th Oct, 2011 04:59 pm
in 2003 my parents made out a warranty deed on their house , dad died,mom now needs medicaid, should my brother file this deed now?
Hi mary!
Welcome to forums!
It would have been better if your brother could have filed the warranty deed in 2003. Nevertheless, he should now file the deed immediately. However, filing the deed now may make your mother ineligible for the Medicaid benefits for the next 5 years.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It would have been better if your brother could have filed the warranty deed in 2003. Nevertheless, he should now file the deed immediately. However, filing the deed now may make your mother ineligible for the Medicaid benefits for the next 5 years.
Feel free to ask if you've further queries.
Sussane
It was me above... Just forgot to login!!
Hello mary,
A warranty deed should contain an accurate description of the property being conveyed, be signed and witnessed according to the laws of the state where the property is located, and be delivered to the purchaser at closing. The deed should be recorded by the buyers of the property at the public records office, which is usually located in the county courthouse. Recording a deed gives "notice to the world" that a particular piece of property has been sold.
:idea:
A warranty deed should contain an accurate description of the property being conveyed, be signed and witnessed according to the laws of the state where the property is located, and be delivered to the purchaser at closing. The deed should be recorded by the buyers of the property at the public records office, which is usually located in the county courthouse. Recording a deed gives "notice to the world" that a particular piece of property has been sold.
:idea:
>>should my brother file this deed now?
No, don't transfer of any assets because Medicaid will be impacted. You should review your Mother's situation with an Estate Planning Attorney, and she'll tell you how to handle your Mother's assets. It's really important to get a local Attorney who knows the Medicaid guidelines well.
No, don't transfer of any assets because Medicaid will be impacted. You should review your Mother's situation with an Estate Planning Attorney, and she'll tell you how to handle your Mother's assets. It's really important to get a local Attorney who knows the Medicaid guidelines well.
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