Q: I bought my home from a man that died when I owed him one payment. I paid my last payment to his estate trustee.
my question is I am on ss disability I have Medicaid and medicare. I was told that the state will take and sell my home if I go into a nursing home if this is true can I put my deed in my name and 2 of my children's names to keep the state of texas from selling my home? or just put the deed in my children's name. (The estate has not been to court yet for the judge to release the deed for transfer ownership, just need to be ready for when this time comes )
A:
You have two problems.
The first is to make sure you obtain title to the house, and without reviewing your documents it's impossible to know what, if anything, needs to be done for that. (Then, if you want to transfer the property to your children, that's a separate process, which likely only requires a deed.)
The second problem is to try to make sure that the value of the property is excluded from your available funds for purposes of obtaining Medicaid / Medicare. Sometimes, transferring the property will work, but there is a "look back" period between when the property is transferred and whether it will be included as part of your assets or not. Talk to an estate planning attorney in your area.
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