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Protecting Parents Homes

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bigalcalbisque

Guest
5 years ago I had my parents add my name to the title of both of their homes. Both homes are paid off. Does this protect the homes so my parents are not forced to sell their homes and my inheritence in the event that after exhausting insurance benifits due to extended end of life illnesses the state makes them sell assets before providing any state or federal money, such as medic-aid or medic care. By the way currently all of their assets are in a living trust
Thank-You, Al
 


ALawyer

Senior Member
No, and your inheritance is what is left over after they pay their expenses and obligations. If they made a gift to you many years before they started to draw government assistance, that gift would be protected. You and your parents should speak to an estate planbning lawyer on AttorneyPages.com to do a real estate plan that will maximize the protection -- the living trust does not do it for them or you.
 

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