Posted on: 29th Sep, 2009 10:22 am
my father is elderly (88) and lives by himself. Would like to quit claim his home (no mortgage) to his two daughters. Is there anything special we need to do if his property is under a living trust? And if we need to place him in a convelescent home will they come after his property?
Hi atwaterelectric,
Your father can first remove the property from the living trust and then transfer it to his daughters with the help of a quitclaim deed. The deed then needs to be notarized and recorded. You may contact an attorney and he may help your father in drafting the deed and transferring the property.
As far as transferring him to a convalescent home is concerned, property transfer would cause a problem in case he would be taking medicaid benefits. Medicaid has a look-back period of 5 years. He may become ineligible for medicaid benefits for the next 5 years after the transfer of the property. To know more about Medicaid look-back period, check out the following link:
http://www.mortgagefit.com/michigan/medicaid-estaterecovery.html#66931
Thanks
Your father can first remove the property from the living trust and then transfer it to his daughters with the help of a quitclaim deed. The deed then needs to be notarized and recorded. You may contact an attorney and he may help your father in drafting the deed and transferring the property.
As far as transferring him to a convalescent home is concerned, property transfer would cause a problem in case he would be taking medicaid benefits. Medicaid has a look-back period of 5 years. He may become ineligible for medicaid benefits for the next 5 years after the transfer of the property. To know more about Medicaid look-back period, check out the following link:
http://www.mortgagefit.com/michigan/medicaid-estaterecovery.html#66931
Thanks
Only the trustee of the trust can transfer the property. That may be your father. In any case, the trustee must execute any deed for the property.
