Posted on: 12th Feb, 2009 02:12 pm
hi, my mothe, who is 77 ys old, is failing fast mentally and physically. their has been talk recently of the possibility she may be put in a nursing home or assisted living facility. i have been told by others i should get a quit claim deed, because either facility will have the right to put a lein on the house & property for services rendered. my handicapped sister lives with my mother also. if this were to happen my sister would have no where to live accept with me in a one bedroom bungalow. also, i have power of attorney and i commute daily from my home, work and their home. any advice would be helpful. this is a heartbreaking decision and i want to make the right choice when considering all involved. thank you for you time.
Hi holleyp,
Your mother will not be eligible for medicaid benefits if she transfers the property to you now. It will lead to a waiting period of 5 years and she may get the medicaid benefits only after 5 years of transferring the property. I would suggest you to consult an attorney and check out the option of lady bird deed in this case.
Thanks
Your mother will not be eligible for medicaid benefits if she transfers the property to you now. It will lead to a waiting period of 5 years and she may get the medicaid benefits only after 5 years of transferring the property. I would suggest you to consult an attorney and check out the option of lady bird deed in this case.
Thanks