New York  |  Elder Law

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10/20/08, 3:04 pm

Legal Question

life estate

my mother has about 150,000 in the bank and a home worth about 105,000.she suggested she sell the home and buy a larger one with the sale proceeds and cash in the bank,and have myself and family move in . upon her death the house would revert to me. the fear I have is if she needs 24/7care in a nursing home will medicaid take the home if its her name? If so should I put it in her name?What is the best way to protect myself? Life estate?


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