Dad in assisted living, house in life estate, i own the mortgage on property

Asked over 1 year ago - Melbourne, FL

Dad is now in assisted living and his house is in life estate then to me when he dies. I cant afford to keep the house sitting with no one in it. It was put in life estate 10 years ago to me and i have paid the mortgage on it since then. Can he give me back the life estate so i can sell it and still get medicaid assistance without them coming after the property?

Additional information

Actually not assisted living he is in a nursing home. I got the house in a bankruptcy settlement with the state of Florida vs my father. My dad didn't have the money to pay off the bankruptcy so i took a mortgage out on the house.

Attorney answers (5)

  1. Stephanie Sauer Woods

    Pro

    Contributor Level 13

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    Answered . You need to speak with an attorney who practices in Medcaid planning. A life estate is an exempt asset for Medicaid purposes. However, if your father deeds the property over to you, then it will no longer be an exempt asset and could very well trigger a penalty or disqualification of his Medicaid benefits.

  2. Robin M. Petersen

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    Contributor Level 7

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    Best Answer
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    Answered . Well, I disagree with the other answers. The whole situation needs to be looked at by an experienced elder law attorney. Dad needs to qualify from an income test, asset test, and medical test before he can get Medicaid assistance. The answer is not a yes or no answer. But, if all those three tests are met and the "other facts" are correct, Dad CAN deed over his life estate without penalty. Again, not a yes or no answer, however.

  3. Brittany Green Gloersen

    Contributor Level 11

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    Answered . I agree with the other answer. You need to consult with an elder law attorney. If your father transfers the property to you, it could be considered a gift. Uncompensated transfers, or gifts trigger a penalty period for Medicaid eligibility. There may be other ways to resolve your problem, and maintain your father's eligibility for Medicaid. An elder law attorney can help you explore those other options.

  4. J. Garry Rooney

    Contributor Level 13

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    Answered . Mention this posting if you call and we will provide a telephone consultation at NO charge.

    J. Garry Rooney
    Attorney at Law
    Rooney & Rooney, P.A.
    2145 14th Avenue, Suite 20
    Vero Beach, FL 32960
    (772) 778 5400
    (772) 778 5290 (fax)
    Attorneys@RooneyAndRooneyLaw.com
    www.RooneyAndRooneyLaw.com
    www.VeroLawFirm.com

  5. Matthew Erik Johnson

    Contributor Level 17

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    Lawyer agrees

    Answered . I agree with the other two responses. There is also the possibility that you can obtain a POA pr consent from your father and then proceed to rent out the home.

    Matthew Johnson phone# 206.747.0313 is licensed in the State of Washington and performs bankruptcy, short sale... more

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