Other names on the title to your residence

This might never occur to you while confronting rising care costs, but this situation should be examined closely so that it may be either modified to accurately reflect the real ownership picture, or corrected if it appears that this will adversely affect your future Medicaid eligibility.

Ownership of your residence is a major factor going forward in planning and meeting the financial challenges of dealing with long-term care costs. For many people, examining just how that title is held, or not held, is a surprise. This you will want to avoid, so make this an early priority. Adjustments needed should be made only with competent advice regarding the impact on various eligibility issues. There will emerge no difficulties or irregularities that cannot be greatly improved by early discovery and timely correction.

Getting Started:

You’ll want to begin with the documents related to the ownership of your residence. If not at hand, they will be readily discoverable at your local courthouse. If okay, well, now you know. If not okay, it is time to consult an attorney skilled in land title work. Then, any changes you think you want to make can be fully considered.

Some Insights:

Occupancy will become your primary focus. Who lives there now, and predictably for how long? How do you want ownership to devolve, and when? Then, and most importantly for our purposes…what impact, if any, will proposed changes have on your immediate and future eligibilities for long-term care assistance programs? Just asking these questions will put you far ahead of most potential future applicants/care recipients.

Dive Deeper:

The only research you’ll need for this strategy will be found in consultation with your choice of a Medicaid Eligibility Planning attorney. If the name (s) should be added now, or removed, to reflect accurately the reality of the true ownership, this requires specific personalized advice. If not necessary, but desired only, again, this is a subject for discussion with your legal Medicaid advisor.