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Protect Your Home From Medicaid Liens – Part 3 (May 2010)

PROTECT YOUR HOME FROM MEDICAID LIENS (PART 3)

Last month and the month before, I explained how to protect your home from Medicaid liens.  In my April column, I described how a parent can transfer the family residence to the children, and keep a “life estate.”

The life estate allows the parent to continue to live in the home for life.  If the parent goes into a nursing home and receives Medicaid help, the government can still put a Medicaid lien on the property.  The lien is like

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Protect Your Home From Medicaid Liens – Part 2 (April 2010)

PROTECT YOUR HOME FROM MEDICAID LIENS (PART 2)

Last month we discussed the dangers of having the government put a Medicaid lien on your home and property if you end up in a nursing home.  Remember, a “revocable living trust” cannot protect your home from nursing home costs.

Some senior citizens who are worried about Medicaid liens just give the house to the children.  I do not think this is wise.  There are many cases in which the parents gave the home to the children, then the children

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Protect Your Home From Medicaid Liens (March 2010)

PROTECT YOUR HOME FROM MEDICAID LIENS

More and more senior citizens are becoming concerned about nursing home costs.  No one really wants to go to a nursing home.  Nearly every elderly person would prefer to stay at home.  However, no matter how much children love their parents, caring for an elderly parent at home can be so stressful that a stay in a nursing home often becomes necessary.  A Kaiser Family Foundation Survey in 2003 found that if you are 65 years of age or older, there is a 45

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