QUESTION
How does one go about transferring titlement to a house to another family member?
Asked on Sep 29th, 2014 on Residential Real Estate - New Jersey
More details to this question:
My mother left her house to my sister in her will, but with her health problems she wants to give my sister the house now. I am trying to find out the best way to do this that will not cause hardship on either my mother or my sister.
1 ANSWER
2 Awards
If your mother gives her house to your sister now, she will be ineligible for Medicaid for five years. If your mother has health problems, she may need the house as an asset to pay for her care. If she runs out of money to pay for her care, and she has given the house away, she will not be able to get medicaid.
Answered on Sep 30th, 2014 at 12:53 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship