QUESTION
I own a home with my daughter and son-in-law. Should I remove my name from the title to avoid putting the home in jeopardy if I need to get medicaid
Asked on Oct 02nd, 2019 on Elder Law - New York
More details to this question:
I'm 71 and worried about them losing their home or part of it if I need to go into a nursing home in the future. If I do need to take my name off the title, how do I go about that.
1 ANSWER
2 Awards
By "removing [your] name from the title" you will be making a gift which, if made in the 60 months before you apply, would delay your eligibility for nursing home Medicaid, perhaps for months, perhaps for years. To safely do Medicaid planning, consult an elder law attorney. You might use the Find a Lawyer function on the website of the National Academy of Elder Law Attorneys (www.naela.org)
Answered on Oct 03rd, 2019 at 5:22 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.