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dbay08 · Joined: 09 Sep 2010 Posts: 1 1.31 Dollars($)

We are considering an enhaced Life Estate Deed for my MOther -In-Law's home to protect it from probate and creditors. Is there a minimum time frame we must wait from when it's executed until the protection is fully in effect?

adonis · Posted: Fri Sep 10, 2010 2:26 am Post subject:

Welcome dbay,

As far as I know, there is no such minimum time period which you need to wait to get the protection. Once the enhanced life estate deed is signed and filed at the county recorder's office, it'll become effective.

Guest

Thank you for your response. I really hope this is true. The reason I ask is that my Dad did a traditional life estate deed for his children on his home in about 2001, and I was told there was a three year - now a five year - waiting period for the life estate deed to become effective - otherwise, as was explained to me, many people would do this once they found out the time frame was short, to avoid taxes through probate, etc. and that the IRS would not allow it. I can't find anywhere online that supports or refutes this. Unfortunately, if it were the case, my Mother in law most likely doesn't have 3, no less 5 years.

jameshogg · Posted: Fri Sep 10, 2010 10:14 pm Post subject:

Hi Dbay,

The waiting period is subject to Medicaid eligibility of the grantor of the property. After the transfer of property, the grantor of the property will have to wait for 5 years in order to claim Medicaid benefits.

Thanks

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Is there a waiting period for the full benefits of Enhanced Life Estate Deed

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