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is a lady bird deed what my mother needs to keep her property

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Icon Mini Profile pastorhatten





Joined: 24 Jan 2010

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Post Posted: Sun Jan 24, 2010 9:05 pm    Post subject: is a lady bird deed what my mother needs to keep her propert
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My mother is about to be placed in a nursing home in florida. Her only income is 1150 monthly. No assets other than her home. I believe she is qualified for medicaid. can she make a lady bird deed and keep her home for her heirs
Icon Mini Profile jenkin7
jenkin7




Joined: 04 Jun 2007

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Location: Hawaii
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Post Posted: Sun Jan 24, 2010 10:50 pm    Post subject:
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Hi pasto,

As far as I know, your mother can keep her property if she transfers her property through a lady bird deed. Medicaid cannot come after her home as long as she expresses her intent to return to the property. Even if she is not around and her relatives and spouses use it as a principal residence, the property can be treated as an exempt asset for Medicaid eligibility.
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