West Palm Beach, FL asked in Estate Planning, Health Care Law and Real Estate Law for Florida

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

1 Lawyer Answer
Andy Wayne Williamson
Andy Wayne Williamson
Answered
  • Estate Planning Lawyer
  • MIramar Beach, FL
  • Licensed in Florida

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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