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 newmand
Joined: 07 May 2009
Posts: 3
2.20 Dollars($)
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 Posted: Thu May 07, 2009 9:13 am Post subject: five year waiting period for tranfer |
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| how to go about transferring my mothers home to myself. she is going to a nursing home and we wish to hang onto home under the five year waiting period in Iowa. |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Thu May 07, 2009 8:39 pm Post subject: |
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Hi newmand!
Welcome to forums!
You can use a ladybird deed to transfer your mother's property to yourself. This deed will not make your mother ineligible for Medicaid if she expresses her wish to return back after being taken to nursing home. In case, if she doesn’t express her wish to return, the home may be considered as an exempt asset for Medicaid eligibility if her spouse or relative occupies it. However, there are chances that Medicaid would consider her ineligible for medicaid benefits for the next 5 years if she transfers the property to you now.
Feel free to ask if you have further queries.
Sussane |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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