Posted on: 01st Jan, 2009 12:07 pm
Can you quitclaim your house to an adult child to avoid the state from taking your house if you end up in a rest home?
Hi Elizabeth,
It will be considered as a fraudulent if you transfer the property just to save it from the state. If you are planning to take Medicaid facilities, then this transfer may initiate a waiting period of 5 years before which you won't be able to get medicaid facilities.
Thanks
It will be considered as a fraudulent if you transfer the property just to save it from the state. If you are planning to take Medicaid facilities, then this transfer may initiate a waiting period of 5 years before which you won't be able to get medicaid facilities.
Thanks