Q: If my grandmother decides to give her house to me, what do I need to do to go about this?
A: The best way for your grandmother to give her house to you is through a Transfer on Death or Lady Bird Deed. That way, if she ever needs Medicaid (and many of us will, especially if we have to go to a nursing home), the gift will not count against her in qualifying to receive it and the house will not be subject to the Medicaid Estate Recovery Program. (These days Medicaid is essentially a loan.)
If your grandmother gives the house to you while she is alive and later needs Medicaid, the value of the house will be divided by a little over $200 (increasing from year to year) to determine how many days (usually months, sometimes years) before Medicaid will pay. That will leave her without help when she needs it most.
Elder law attorneys are experienced in this area. You can find one near you at the website of the National Academy of Elder Law Attorneys (www.naela.org).
Isaac Shutt agrees with this answer
A: I agree with Ms. Garrett. Your grandmother could sign a deed, which would transfer the house to you. A "Ladybird" deed is often recommended in your grandmother's situation. Also, if she doesn't already have a will, she should have a will. In her will, she can leave the house to you upon her death.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.