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Nate, Attorney
Category: Estate Law
Satisfied Customers: 10685
Experience:  Over 10 years of legal estate experience.
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I have my estate in a Family Trust, with my two nieces as beneficiaries.

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I have my estate in a Family Trust, with my two nieces as beneficiaries. I understand that my condo can be sold and the proceeds can be used to pay expenses such as nursing home care. Can I protect my nieces by deeding my condo to them now, while I am still alive and healthy. Clifford
My name isXXXXX have been a licensed attorney for over ten years and will be assisting you today.

That would certainly be possible. The Medicaid look back period is five years. If you do not end up needing Medicaid within five years of the transfer, the condo will not count against your eligibility and it will not be subject to being exhausted (the value used up) for your care.

If you have more questions please feel free to ask. I'll be happy to answer them. If you do not, please do remember to rate my service in assistance to you today.

Customer: replied 3 years ago.

Thanks, Nate: one more question. Medicade is for people who have little or no income. Is that true? Is Medicade germain in my situation? I own my condo free and clear. Hopefully, I won't live another five years. I am 77.

Right. Medicaid kicks in once all your assets are exhausted. Medicaid eligibility is the issue with most asset transfers because otherwise most people cannot afford nursing home care. If that is not an issue, then there is no issue.
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