Medicaid
Which trust is required for asset protection, specifically protection from long-term care costs?
Which trust is required for asset protection, specifically protection from long-term care costs? Can a married individual be the sole trust maker of this trust? Is there any condition under which this trust may become revocable?
Can the state deny Medicaid to a mentally retarded adult who is receiving SSI only?
Mentally retarded adult receiving SSI now denied medicaid due to receiving deceased father's benefit amount, thus an increase over his SSI benefit. Increase started in 2001. Now receives a total $1109 monthly. Can MO deny medicaid? Basis?
What deed is needed to transfer ownership of my home to my two children?
My husband and I own our home outright. I want to put the house in my two children's names. My son and married daughter. Is this possible with a quitclaim deed or is a warranty deed better? If I need to ever go to a nursing home, I do not want them to take my home for payment that is why I prefer giving it to my children now before I get older. With any of these Deeds, would it be impossible for them to take the home as payment?
Will Medicaid attached my sister's assets if she goes into a nursing home?
My older sister and I have lived together for 20+ years. We use the same checking account. Our home was originally purchased by my sister but a few years ago we had it put in my name as well. Her only income is from Social Security. She has no savings or any source of income. I am a school teacher and also receive $800 monthly for past child support. My sister now needs to be in a nursing home. Will Medicaid require that we sell our home?
Can Medicaid Attach House Transferred to Children With Retained Life Estate?
We bought my father and mother's property in the year 2000. Since then, my mother has passed on and my father is ready to go into a nursing home. We paid the property off in 2004. We gave my parents the right to live there for life. Now, we have two deeds - a warranty deed and a mortgage deed. The mortgage deed says that it is paid for and is discharged and signed by my father. The warranty deed says excepting and reserving for of the grantors herein the right to exclusive use and possession,including any income derived therefrom, of the residence presently occupied by the grantors and located on the premises hereby conveyed for and during the remainder of the natural lifetime of the grantors without cost or charge to the grantors. Does Medicaid have the right to take our property to pay for nursing home care? We have a clear title, nothing is owed on the property, and we paid for the taxes and insurance since the day we bought it.