Posted on: 17th Feb, 2012 01:45 pm
I am retired, own a modest home. I am worried that I may lose this part of my sons' inheritance if I have to go into an assisted living or nursing home. Would a life estate help in this situatiuon? Could the house be sold by me if necessary?
Hi Marjorie,
Once you take the help of Medicaid benefits, it will be difficult for you to sell off the home. If you wish, you can transfer this property to your son now. You can take help of a ladybird deed for doing the same. However, before signing on the dotted lines, it will be better if you could contact a real estate attorney in this regard.
Thanks
Once you take the help of Medicaid benefits, it will be difficult for you to sell off the home. If you wish, you can transfer this property to your son now. You can take help of a ladybird deed for doing the same. However, before signing on the dotted lines, it will be better if you could contact a real estate attorney in this regard.
Thanks
It used to convey a persons interest in a property to another person. It can be the person you have a joint ownership with or someone else. You can only convey the interest you have so it depends on how you took title and what kind of ownership you have.
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