QUESTION
What can my friend do if he wants to sell his home without losing disability benefits?
Asked on Nov 15th, 2011 on Estate Planning - New York
More details to this question:
My friend is on disability and medicaid. He owns his own home but wants to give it to a family member without losing benefits. If he were to sell he would lose benefits, but he can't afford to do that as his medical bills would be astronomical. What are his options? Can he sell without losing? Can he give to the family? Can he sell to the family? He feels stuck and is having a hard time maintaining home and bills. Can you help or refer to someone who can? I would appreciate any advice you can give.
1 ANSWER
1 Award
There are ways to do this. The best way is with a special needs trust, which you can do for your friend. It will solve this problem.
Answered on Nov 16th, 2011 at 4:20 PM