First, I suggest consulting with a local bankruptcy attorney. If this debt can't be dealt with in bankruptcy, then perhaps that attorney would have other suggestions regarding how other persons in this situation have dealt with this problem. You can locate a local bankruptcy attorney using the link below. Most of them offer free initial consultations. Also, many medical creditors will not take action against you if you have some type of payment plan set up with them.
I am sorry to read you are in this situation. This is a difficult one, as we are talking about protecting assets from existing, legitimate creditors.
In theory, your IRA’s and 401k’s are protected. Bankruptcy may be an option that allows you to apply for the federal 125k homestead. You definitely need to schedule a consultation with an Elder Law/Medicare-Medicaid planning attorney in your area.
Douglass Lodmell is the nations #1 Asset Protection attorney and has clients in all 50 states, protecting over $4 Billion in client assets. Answers given by him in this forum do not establish an attorney-client relation. He advises to seek a specialized attorney in the area of your interest for legal representation.
It may be too late for you to act by the means you are considering. Take a look at the Uniform Fraudulent Transfers Act in your state laws. Changing the title to property to prevent existing creditors from seizing it can have civil & criminal repercussions, which is why you need to work with an experienced asset protection attorney before you shoot yourself in the foot. You can find ones in your community by using the "Find a Lawyer" search feature here on avvo. Hope this perspective helps!
You wrote, "How do we protect our home and personal assets in the state of Missouri. They have no homestead exemption."
MO does have a homestead exemption, at $15,000 of equity. Perhaps that will help.