Life Estate And Medicaid at Life

Life Estate And Medicaid. There is a big exception to this however… con: A life estate is created through a properly drafted and recorded deed or using an irrevocable.

As with a transfer to a trust, the deed into a life estate can trigger a medicaid ineligibility period of up to five years. A common use of the life estate deed involves eligibility for medicaid benefits. Lastly, a property owned via a life estate is typically protected from medicaid claims once 60 months have elapsed after the date of transfer into the life estate.

I hear there are different kinds of wills, what are they

If your mother’s house were in a typical life estate and you sold it, your share of the proceeds would not be subject to claim by the texas medicaid agency. Life estates have historically been used as part of medicaid planning. It’s important to consider the drawbacks with this strategy, including complications that can arise involving the property’s remainderman. There is a big exception to this however… con: