A common perception of applying for Medicaid and moving into a nursing home is that you will lose your home. While you aren’t required to sell your home to qualify for Medicaid nursing home care, the state could potentially make a claim against your house upon your passing. People’s first inclination is often to give their homes to their children because they fear “estate recovery” by the state to recoup benefits they have paid on their behalf. Initially, the first move in the planning process is to give their house to their children; however, three valid reasons make a case against this choice:
- Medicaid Ineligibility
- Loss of Control
- Adverse Tax Consequences
How are these factors going to influence your decision on how to proceed?
Protecting Your Home From Medicaid’s Grasp
This article is for informational purposes only and shall not be construed as legal advice. No attorney-client relationship between the reader and Brennan & Rogers, PLLC, or its attorneys is intended. This article should not be used as a substitute for legal advice. Laws may vary from state to state, and the educational materials found in this article may not apply in all jurisdictions.
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