Question: My father remarried after my mother died. He was in his sixties. He owned our family home and had no mortgage or liens, etc. He never put his second wife on the deed as he wanted to make sure we inherited the home and not her heirs. He was advised to create a life […]

Question: Is there a way to create a grantor “irrevocable trust” that allows the beneficiaries to receive a step-up in basis of a home at death? If so, can this be considered a gift which falls under the 5-year look-back rule for Medicaid. Response: Yes, though you’re mixing up a few different issues here. First, […]

Question: Spouse is in nursing home on Medicaid. Well spouse is allowed to keep their home. Is the well spouse allowed to sell the home and rent in cheaper neighborhood or purchase a condo or home elsewhere? Will a quitclaim deed help here? Response: Yes, the healthy spouse living in the community can sell the […]