Preserving Your Home
Preserving Your Home When Moving in With Your Children
Do you have questions about preserving your home when moving in with your children? Our dedicated Buffalo Medicaid lawyers explain how in this video.
If you are concerned about preserving your home if you go into a nursing home and you are selling your home and moving in with your children, there are two options that are available. You can use the proceeds to buy a new home with your children and obtain life use after one year of living in it. This will preserve the home in the event you have to go into a nursing home. If you sell your home you can use the proceeds of the sale of your home to give to your children to add an in-law apartment to their home. As long as you live there for one year with a life estate, that home will be protected. They will not consider that an asset for nursing home care eligibility.
Are you in the process of dealing with Medicaid? Friedman & Ranzenhofer are experienced Buffalo Medicaid Lawyers that can guide you through the process.
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