How do I put daughters name on house.
My husband is 79 and I'm 69. Our daughter moved home after her job was terminated. She is 42, not married, no children. She has since renovated much of the house as we were not able to. With husbands health changing, I want to protect our home from take over if he should (or I should eventually have to move into a nursing home) From having mom in a nursing home facility I know that the spouse can still live in the house, but upon their death the house must be sold to recoop Medicaid charges incurred in the nursing home. In GA they can go back five years. Would it be prudent to put daughters name on title and what would be the most advantageous way to do that. She is currently looking for a job, but I still think we can do this. Thanks for your response.Nancy - Georgia by nancy8_289_133 from Carrollton, Georgia. May 8th 2012
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
This is a question best answered by an estate attorney. For Medicaid, they can go back 5 years, however there are different shelters that you can take advantage of that can protect your home.. so try contacting your state BAR Association for recommendations on estate attorneys. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
J.D. Peck (TheJDPeckLendingTeam)
#45 ranked lender in Colorado - 82 contributions
You should contact an estate attorney and I would advise asking them the advantages and disadvantages of putting the home in the name of a family trust.
Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,256 contributions
yes, i had tg do this for my parents.. you can go to your trust attorney, and if either of you need to be put in a nursing home , you put your daughter also in the place my ;parents estate was very large
Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,256 contributions
you can call me at 602 330 1598i know all about the 5 yr lookback..
Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 2,431 contributions
Yes, it is possible, but it may not be wise. One of the biggest pitfalls is you could lose your house if your daughter (with name n title) is involved in an accident. She could be sued and the courts could force her to liquidate the home (since it would be considered her asset) in order to satisfy a judgment, resulting in you being to forced to sell the home, even if you didn't want to. The best thing for you to do is discuss your options with either an estate planning attorney. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
I agree with the others. That is a question for an estate planning attorney.
WAYNE BLACK (wayne.black)
#7 ranked lender in Georgia - 9 contributions
I own a Reverse Mortgage company here in Atlanta , Retire Secure , we do loans for customers in this situation frequently.This may or may not work for your situation though , call me @ 770-844-7200 if you would like to discuss.
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