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Non-Cattle Specific Topics
Every Thing Else Board
Any attorneys on here, need legal advice
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<blockquote data-quote="hurleyjd" data-source="post: 926051" data-attributes="member: 4674"><p>Guess again Kathie I am only speaking from experience. Have seen it happen in my family and friends family. The state can take the property to satisfy any money spent for the care of the person through medicaid. The life estate suggested by Bull383 will not work either the state puts value on the life estate and gets theirs back with a lien against the property. Only way to get around it is to gift it to someone before you need to get sick and need care there is a time limit that applies and I do not know what it is. At one time here in Texas you could be rich one minute and a pauper the next by deeding everything to your heirs, the reason was to qualify for Medicaid so the rest of us could pay for the the healthcare up-keep.</p></blockquote><p></p>
[QUOTE="hurleyjd, post: 926051, member: 4674"] Guess again Kathie I am only speaking from experience. Have seen it happen in my family and friends family. The state can take the property to satisfy any money spent for the care of the person through medicaid. The life estate suggested by Bull383 will not work either the state puts value on the life estate and gets theirs back with a lien against the property. Only way to get around it is to gift it to someone before you need to get sick and need care there is a time limit that applies and I do not know what it is. At one time here in Texas you could be rich one minute and a pauper the next by deeding everything to your heirs, the reason was to qualify for Medicaid so the rest of us could pay for the the healthcare up-keep. [/QUOTE]
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Any attorneys on here, need legal advice
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