If a 90 year old couple wants to sign over a house and land to their son thinking that SS will pay their nursing home bill, what are the laws concerning this?

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If a 90 year old couple wants to sign over a house and land to their son thinking that SS will pay their nursing home bill, what are the laws concerning this?

Asked on June 25, 2012 under Estate Planning, Tennessee

Answers:

Brad Micklin / The Micklin Law Group

Answered 9 years ago | Contributor

It is appropriate to transfer the house for tax and or estate planning purposes. It is considered a fraudulent conveyance if it is transfered to avoid having to use assets to pay for medical care.

There is a 5 year window in which a transfer can be reversed if it is found to be transferred to avoid Medicaid issues.

I would recommend you meet with the skilled estate planning attorney to ensure the transfer is appropriate and that you avoid the potential of it being considered a fraudulent conveyance.


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