Q: Which deed would be better for protecting my parents house in Florida from medicaid a ladybird deed or a quitclaim deed?
A: The enhanced life estate deed would be the better option, homestead is a protected asset in Florida and as it relates to Medicaid, with enhanced life estate deed your parents would retain their homestead interests and protections. If you did a quit claim deed, you would run afoul of Medicaid look-back rules with it being a transfer. You may want to discuss further with an estate planning/elder law attorney as well.
Lauren Nagel Richardson agrees with this answer
100% lady bird deed. This is because the owner remains the sole owner (with right to sell, rent, change remainderman) until death. Only at death does the ownership interest change. This is important because transferring assets within five year of applying for medicaid can result in a penalty, which you want to avoid. A quit-claim deed is a transfer of assets.
To learn more about lady bird deeds. here is an article and video:
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