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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.
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.
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.....
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).