No. In general, a patient who gratuitously transfers property to his or her children reserving a life estate, or transfers property into a joint tenancy or tenancy in common is subject to a Medicaid divestment penalty if the transfer occurs within 60 months from the date of the Medicaid application. A Lady Bird Deed does not transfer ownership of the property at the time it is executed and may be used to avoid the divestment penalty.
Monday
Medicaid and the Lady Bird Deed
Does Medicaid Look at a Lady Bird Deed as a Divestment of Assets?
No. In general, a patient who gratuitously transfers property to his or her children reserving a life estate, or transfers property into a joint tenancy or tenancy in common is subject to a Medicaid divestment penalty if the transfer occurs within 60 months from the date of the Medicaid application. A Lady Bird Deed does not transfer ownership of the property at the time it is executed and may be used to avoid the divestment penalty.
No. In general, a patient who gratuitously transfers property to his or her children reserving a life estate, or transfers property into a joint tenancy or tenancy in common is subject to a Medicaid divestment penalty if the transfer occurs within 60 months from the date of the Medicaid application. A Lady Bird Deed does not transfer ownership of the property at the time it is executed and may be used to avoid the divestment penalty.
©
CORPUS JURIS. All rights reserved.