Welcome! Thank you for your question.
Unfortunately this does not happen within 90 days. The best and most solid way to protect the property is to transfer it to a Medicaid protected irrevocable trust
. This trust is different than the living trusts that your parents have. The living trusts keep the property out of probate. However, they are revocable so fully available to pay all debts including nursing home expenses. The irrevocable trust will remove the property from your parents names fully. The transfer will cause them to be ineligible for Medicaid to cover nursing home costs for 5 years from the date of the transfer. Once the 5 years expires the property is protected inside the trust. This is a bit more complex than transferring the property outright to you but it keeps it protected from your creditors as well.
An experienced elder law attorney in your area can help you put in place protection that will assure that you keep the farm. You can find an elder law attorney at www.naela.org
I cannot provide you with legal advise. I have provided you with information about the law related to your question. My answer, and any information that you find online, should not take the place of having a consultation with a lawyer in your area to advise you regarding your specific issues.
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