Posted on: 02nd Dec, 2009 01:50 pm
In Idaho I purchased a home using the assistance program for seniors because of my age ..My home is NOT paid for..Can I do a quit claim and change the deed to my adult childs name even tho I will still make the house payments...then IF I have to go to a nursing home it will not be held against me as an asset ??..Thank you
suzanne, what you are thinking is logical, but i strongly suggest you contact an attorney to work out the details. consult with someone who is well versed in estate planning as well as real estate, because you don't want to be accused by the state of having transferred your home strictly for the purpose of avoiding any uncomfortable ramifications of being admitted to a nursing home. this is not an area to tinker with unless you are fully aware of everything that is taking place and the results that could come.