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To: Mr. Lucky

Don’t know if this is so, but I heard even if you have a living trust, if the husband or wife is headed to a nursing home, that spouse should do a quit claim on their grant deed, allowing the other spouse to protect the home from a lien when that spouse passes on for 1/2 the value of the home, or up to the medical expenses incurred.


59 posted on 11/13/2013 5:26:31 PM PST by kiltie65
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To: kiltie65
All states have what are called "spousal impoverishment" rules. Loss of the home isn't a risk so long as it remains the principal place of residence of the non-nursing home confined spouse, so a quit claim deed as between spouses wouldn't accomplish much.

A transfer to, say, children at least 5 years before the second spouse vacates the home might protect the property, but it exposes the home to creditors of the children.

The fact is that Medicaid is public welfare and the government has an obligation to recover costs from the beneficiaries of that welfare before sticking taxpayers generally with the tab.

114 posted on 11/14/2013 6:19:05 AM PST by Mr. Lucky
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