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Question

my grandmother is in an assisted living facility and has a home that she is leaving to my mother and myself. If we have to put her into a nursing home eventually, how can we protect the home that will be ours?

Submitted: 310 days and 9 hours ago.
Category: Estate Law
Value: $15
Status: AWAITING CUSTOMER ACTION

Answer

Dear XXXXXXXXXXX - If you are talking about Medicaid there is a five year lookback period so if you transferred the property today it would be five years before it would be free from attachment to pay medical bills. Of course if your grandmother has other assets those could also be affected. This is a rather simple explanation to what can be a complicated problem so you may want to consult with a financial planner before you just start transferring assets.

 

David Kennett - JD - Attorney at Law

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Expert: David Kennett
Pos. Feedback: 99.6 %
Accepts: 1064
Answered: 5/11/2009

Attorney

25 years practicing attorney

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