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Roger
Roger, Attorney
Category: Family Law
Satisfied Customers: 31768
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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In Wisconsin is it possible to put our house in our sons

Customer Question

In Wisconsin is it possible to put our house in our sons name so we won't loose it to a nursing home?
Submitted: 2 years ago.
Category: Family Law
Expert:  Roger replied 2 years ago.

Hi - my name is ***** ***** I'll be glad to assist.

Yes, it is possible to transfer the title to your property to your son......but there is a 5 year lookback period for medicaid, which means that if you do this, you'd have to make it 5 years from the date you transfer the property before applying for medicaid in order to let enough time pass to render the property safe.

Expert:  Roger replied 2 years ago.

But, if your parents aren't likely to need medicaid, then the house should be safe....but you may still want to transfer title (and possibly reserve a life estate) to avoid probate costs in the event that one or both of you passes away.

Customer: replied 2 years ago.
What is a life estate
Expert:  Roger replied 2 years ago.

It's where the owners transfer title to someone (usually a relative/child) and reserve a life estate (basically a permanent tenancy) which allows the owners to remain in the property for the remainder of their lives.....

Expert:  Roger replied 2 years ago.

Thus, you're allowed to get the property out of your name(s) while still holding a stake in the property and the ability to remain there until death (which obviously ends the life estate).