My parents are moving into HUD housing. They intend on keeping their home and letting my brother live in it.

Question

My father has Alzheimers. Should he eventually go to a nursing home, how will it effect my parents house if they require medicaid. The home will no longer be their primary residence. Should they do a life estate deed and put my brother on the deed. Which is the best protection

sharynmarie · Accepted Answer

Taking their house out of their names is not a good idea if your parents are going to try to get medicaid.  Medicaid will ask for several years past records.  As Jeannegibbs said, see an elder law attorney.

dfawn32 · Answer

HUD considers a home an asset.  If your parents are moving into HUD housing, this asset will be taken into consideration for their rental computation.  Owning a home increases their assets and in turn becomes income.  Increased income = higher rent to pay to HUD each month.  Best bet:  make sure their names are not on any large assets like their home so their income isn't inflated and they will be charged a lower rent.

jeannegibbs · Answer

See a an attorney specializing in Elder Law.

My parents are moving into HUD housing. They intend on keeping their home and letting my brother live in it.

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