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lwpat
lwpat, Attorney
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Experience:  Actively practicing trial attorney
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How do you go about getting a enhanced life estate deed does

Resolved Question:

How do you go about getting a enhanced life estate deed? does it work for everyone and what are the qualifications? Also what makes asests part of probate, or not?
Submitted: 5 years ago.
Category: Legal
Expert:  lwpat replied 5 years ago.
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An enhanced life estate or ladybird deed is not available in Minnesota. The same thing can be accomplished through the use of a trust.

Assets of the deceased are a part of there estate unless they pass to a beneficiary by operation of law. Such items as life insurance, retirement benefits and payable on death accounts (joint accounts) can pass directly to a beneficiary and probate of those assets is not required. You may want to consult a local elder care attorney.

http://www.naela.org
Customer: replied 5 years ago.
What kind of trust would my grandma use on her house upon entering a rest home? And is there a time limit on when she in able to do so, and would it effect her eligibility for medicad or the look back period.
Expert:  lwpat replied 5 years ago.
What kind of trust would my grandma use on her house upon entering a rest home? And is there a time limit on when she in able to do so, and would it effect her eligibility for Medicaid or the look back period.

She could use a revocable trust and that would not effect her eligibility. Any other transfer for less than the value of the house within five years of applying for Medicaid would make her ineligible for a period of time depending on the value of the gift.
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Customer: replied 5 years ago.
In what case would the revocable trust effect the medicad eligibility?
Expert:  lwpat replied 5 years ago.
it would not
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