transferring home ownership
a way to insure my children money from sale of home in case i am put in nursing home
1 Answer from Attorneys
Re: transferring home ownership
RUN, DO NOT WALK, to an ElderLaw attorney who can advise you how to protect your home without risking your eligibility for Medicaid coverage, should you need it for nursing home care.
Do NOT risk your eligibility by simply transferring the home.
When you discuss your options with a qualified attorney, also ask about having a Will prepared. In the Will you may leave your home to your children or direct that it be sold and the proceeds divided among your children. Many factors go into deciding the best way to do this.