medicaid and tranferred property deed

Welcome epw.

I'd like to know what type of deed your parents have signed. I have read through your previous post at http://www.mortgagefit.com/propertytransfer/medicaid-rightofelection.html . And all that I have to say is, if it is a ladybird deed, Medicaid will not be able to take away your home.

However, it's important to know whether your mother received the assistance. if it's your father who has received Medicaid, then because he is still alive, Medicaid won't come after the house now.

"Right of election" is the spousal right to take over estate gifted by the deceased spouse or the right to receive share of interest in property as decided by the state laws.

Thanks.

If an elderly unremarried widow who resides in Florida signs a Lady Bird Deed... and then applies for Medicaid is there a penalty if then the property is sold by her beneficiaries..in other words, would the beneficiaries have to reimburse Medicaid for any monies paid out by them

Thank you for your assistance

Monica

Hi Monica!

Welcome to Forums!

The home is generally exempt from Medicaid claims during the lifetime of the person and also enables the persons named to receive the home upon death, free of any Medicaid claims and liens.

Feel free to ask if you have further queries.

Sussane