Q: Buying a house with mom it will be our principal residence how can I protect it from Medicaid
Will be our homestead she put $333000 I put $200000
A: I suggest you could take title in your name with your Mom having a life estate only. This will guarantee that she has an ownership type interest in the property until her passing, but at her passing title would be solely yours and would also show to Medicaid that it is an already settled issue from an estate planning status. Also, there is a look back period for Medicaid applications of typically 5 years, so the more days that pass between the purchase and a future application for Medicaid the better.
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