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Lady Bird Deed

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Joyce Guest	Posted: Thu Jan 08, 2009 9:46 am    Post subject: Lady Bird Deed Like 0 Dislike 0 Hello, My mom will be going into a nursing home in March 2009. In Feb. 2005 we had her condo in florida but in a life estate deed with my sister and I as tenents in common. Can medicaid force her to sell the condo or can they attach a lein against it for medicaid recovery. The lawyer said it is a lady bird deed. We have not applied for medicaid yet. This is my moms only assest. No cash. Are lady bird deeds (life estate deeds) considered irrevocable or revovable deeds. Thank you! _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Jan 08, 2009 11:38 pm    Post subject: Like 0 Dislike 0 A ladybird deed does not make your mother ineligible for Medicaid if you express your "intent to return" after being taken to nursing home. Your mother can use a letter in order to express the intent to return. If your mother does not express the "intent to return", still the home may be considered as an exempt asset for Medicaid as long as her spouse or relative occupy it. Check out the following link to know more: http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html _________________ Procrastination is the enemy of your financial success

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