My grandmother and I own our home and we have a survivorship Deed together. (If I die she gets it and if she dies I get it) Well some health issues have came her way and now she needs Medicaid and can’t get it because her assets are to high! Can we do a quit claim deed and have it go directly to me and exclude her so her assets vanish?
Medicaid Planning is one of the most complex of all areas of estate planning. Doing this yourself without the help of an Elder Law or Estate Planning attorney who has expertise in this is a terrible mistake. In this particular instance, if you have her quit-claim the property to you, Medicaid will continue to count it as her asset for the next 5 years. However, there is a "caregiver" exception to this rule that would allow her to give you the property if, by virtue of you living in the home with her for at least 2 years, it has kept her out of a nursing home. You need a doctor to certify that. By the way, if she does transfer the property to you and lies about it on the Medicaid application, it is federal criminal fraud against the U S Government, subject to loss or reimbursement of Medicaid benefits, fines and imprisonment.
Mr. Huddleston is an Ohio-Certified Specialist in Estate Planning, Trust & Probate Law, with offices in Columbus and Dayton, serving client families and private business owners throughout Ohio. Mr. Huddleston responds to Avvo questions as a public service to help educate and provide general guidance to questioners, but his responses are not legal advice and do not create an attorney-client relationship.
Agree with Mr. Huddleston. Before doing anything, you should consult an attorney who specializes in Medicaid planning. This is not a DIY project.
Ms. Willi is a tax attorney, CPA, and Ohio-Certified Specialist in Estate Planning, Trust & Probate Law, with offices in Westerville, Ohio. She serves client families and private business owners throughout Ohio. Ms. Willi responds to Avvo questions as a public service to help educate and provide general guidance to questioners, but her responses are not legal advice and do not create an attorney-client relationship. Her posts are provided for informational purposes only and are not a substitute for advice provided by your own attorney or licensed tax professional.
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