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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 37080
Experience:  Texas Attorney for 30 years dealing in real estate
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Is a life estate value exempt from Medicaid asset

Customer Question

Is a life estate value exempt from Medicaid asset eligibility?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. I Am Ray and will be the expert helping you today.Here in Hawaii this may not work.In the past Hawaii released liens against life estates but the AG started not releasing liens so the lawyers have since shrunk the amount of life estate you retain to avoid problems.

What they are currently doing is leaving a partial life estate say 1/10.00o life estate and you transfer the rest..

http://okuralaw.com/2015/does-a-life-estate-still-work-for-medicaid-june-2015/

You may want to consult a local NAELA lawyer.The National Association of Elder Lawyers specialize in this kind of transfer..

https://www.naela.org/Public/About/Consumers/Find_An_Attorney/Public/About_NAELA/Public_or_Consumer/Find_an_Elder_Lawyer/Find_an_Elder_Lawyer.aspx?hkey=01d28480-72a3-4294-8d32-554931fc26b4

I appreciate the chance to help you today.Please let me know if you have more follow up.

Expert:  Ray replied 1 year ago.

This can be done by reducing the amount of the life estate retained as I set out above.

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