Q: She is elderly. We can’t qualify for needed services because of the house. I can’t afford to pay for a nurse or provider. I am barely making ends meet with medical bills and all the essentials needed to care for her.
A: The legal procedure to transfer title from her to you is easy. However, whether it is advisable with her circumstances is a decision that can only be made with advice of counsel. If there is any potential that she will need to apply for Medicaid, such a transfer can make her ineligible for Medicaid. Plus, if you have lived in the house as her caretaker for two years prior to her institutionalization, you may be able to remain in the home after her passing. Also, if you transfer the home into your name only and you do not reside there, her real estate taxes may increase. She will lose her homestead exclusion and possibly any senior citizen’s discounts.