You can sign your house over to anyone you like at any time. However, if you do this, it will affect your eligibility for Medicaid for 5 years. If you apply for Medicaid benefits (to pay for Nursing Home care, for instance) within 5 years of gifting your home (or anything else), you will incur a...Read more »
My sister-in-law collects SSI for a special needs son. If she is given the money, it will disqualify her for SSI. My mother-in-law has suggested a low or no interest loan that would be forgiven in her will. They live in Wisconsin. What are the legal issues that need to be considered.
This is a very interesting question. Because a person's home does not count against their eligibility for SSI, your mother-in-law might be able to give her daughter a home, or pay the mortgage. Though it would take a bit more looking into, the gift of mortgage money seems like a safe gift. For...Read more »
The answer to this question depends on a few things: 1-the size of the entire estate, including life insurance, IRAs, real estate, etc. If the estate was large enough to have an estate tax, then the tax will have to be paid before you get the property. 2- what year did the decedent die? This is...Read more »
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