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Texas Lady bird Deed - How does it work?

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Icon Mini Profile sara
sara
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Post Posted: Wed Aug 27, 2008 5:41 am    Post subject: RE:
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Hi Ron Scherer,

Welcome to the forums.

Has your mother applied for Medicaid? if she hasn't then she'll have to wait for 3-5 years before she applies for Medicaid. Know more...

Take Care

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Ellen

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Post Posted: Tue Sep 09, 2008 11:12 am    Post subject: Medicaid and transferred property deed
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My parents signed the deed of their house over to us 4 children in July 2003. My Dad went into the Long Island State Veteran' home 5/29/07 and his Medicaid was approved June 2008. My Mom died 5/1/08. Can Medicaid get claim to any part of the house that was also left to the 4 kids in their will? Besides that the deed was transferred in July 2007? My Dad also has 2 pensions of his own, now 1/2 of my Mom's State of New York Pension and his Medicare that the Veteran's home gets from him. And what is a "right of election" that needs to be filed in surrogate court by our attorney? Thanks so much.
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Post Posted: Tue Sep 09, 2008 12:00 pm    Post subject: medicaid and transferred property deed
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Sorry the correct date the deed was transferred was JULY 2003, not 2007
Icon Mini Profile sara
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Post Posted: Wed Sep 10, 2008 5:47 am    Post subject:
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Hi Epw,

The reply to your query has been posted at http://www.mortgagefit.com/propertytransfer/medicaid.html .

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jamey

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Post Posted: Fri Oct 24, 2008 2:07 pm    Post subject: Ladybyrd Deed
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My mother recieved Primary care medicaid for 4 years and they discountinued her care because her house was in a Eravocable Trust and wanted to levy against it . Why did they wait 4 years ? I do not know BUT medicaid investigated her every year and Oked her for care. Now they want her house. They did not get it, so they dropped her care. Then I filed a ladybyrd Deed and refiled for services. I live in Texas . Will my mother qulify now for medicare primary care?
Icon Mini Profile jameshogg
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Post Posted: Sat Oct 25, 2008 1:41 am    Post subject:
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Hi jamey!

I think it is now that the Medicaid has come to know that the property is in a irrevocable trust and they will not be able to do an estate recovery. Thus, for this reason, they have stopped the medicaid facility.

As far as I understand you have filed a ladybird deed in order to stop the estate recovery to be done by medicaid but it is not required as the property is already in a trust.

Thanks.
jamey

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Post Posted: Sat Oct 25, 2008 8:33 am    Post subject: all ready in a trust
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Thank you for your reply James

Medicaid had a hearing with me and my lawyer and they quoted a law passed in 2002 that stated that they could consider my mom's house in her assets. We even proved up that I was the trstee of the trust (not my mom) and that she had no control of the sale of her home and that it was in control of the trust by the trustee AND they still dropped her from Medicade Primary care. They told us that we would have to pay for her care privatetly funds. My mother is only recieving her Social Security and hardly has enoiugh money to get by month form month. So my lawyer filed a Lady bird deed and I have re-applied for medicaid Primary care. Question is; Can medicaid pentalize me for five years if they had already given her care for the past 4 years?

Jamey
Icon Mini Profile Niicss
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Post Posted: Mon Oct 27, 2008 3:58 am    Post subject:
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Hi jamey!

There are chances that Medicaid may penalize you for 5 years. I think they have not noted the fact that the property was in a irrevocable trust. As they have noted now and dropped the facility, they may penalize you.

Thanks

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matt

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Post Posted: Mon Mar 09, 2009 10:46 am    Post subject: property ownership
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If my sister and niece have power of attorney across the board and my father is totally incapacitated, who owns his house under TEXAS law? Much appreciated and anticipated answer!
Icon Mini Profile jerry
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Post Posted: Tue Mar 10, 2009 4:01 am    Post subject:
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Hi matt,

Legally your father is the owner of the house, but as he is totally incapacitated your sister and niece are the actual owner who can exercise all those powers mentioned in the power of attorney. However, if he has prepared any will, the power of attorney cannot override that will. The property would be distributed as per the instructions in the will.

Thanks,

Jerry
mary patchen

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Post Posted: Fri Jun 04, 2010 11:02 am    Post subject: ladybird deed in texas
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in creating a ladybird deed, is it best to wait until my father has applied and/or has been approved for medicaid before creating? he has been on private pay for three months at a skilled nursing facility. he will not be able to return home. within the next few months, his cash reserves will be depleted.
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Post Posted: Fri Jun 04, 2010 10:18 pm    Post subject:
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Hi mary,

In my opinion, it will be better if your father signs a ladybird deed now. However, you should get in touch with an attorney who is an expert of the Medicaid laws of your state and he will be able to guide you in a better way.

Thanks
janie cleveland

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Post Posted: Mon Dec 20, 2010 9:55 pm    Post subject: law suit & lady bird deed
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My brothers filed a lawsuit againest me after finding out my mother made me thegrantee in a lady bird deed she is still living
Icon Mini Profile jameshogg
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Post Posted: Tue Dec 21, 2010 10:42 pm    Post subject:
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Hi janie,

Your query has been replied to in the given page:
http://www.mortgagefit.com/know-how/ladybirddeed-13.html#195624

Take a look at it. Hope it helps you.

Thanks
miss deb

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Post Posted: Mon Jun 06, 2011 2:02 pm    Post subject: taxes when you sell a home given by a lady bird deed
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i have heard conflicting info, my grandmothers attorney says i pay no taxes as i am the grantee of her lady bird deed when i sell. i saw where i have to pay the difference from what she paid and what we make on the sale, which is true?
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