Lady bird deeds can also help with Medicaid recovery. When a person receives Medicaid benefits, Federal law allows the state Medicaid agency to recover assets from the deceased person’s “estate” at his or her death. States differ in how they define “estate” for purposes of Medicaid recove...
Lady Bird Deeds and Medicaid A Lady Bird deed can be useful if the grantor may someday want to apply for Medicaid to pay for long-term nursing care. To qualify for Medicaid, the value of your assets needs to be below certain limits. Many states allow you to keep your primary residence ...
In Summary About the Lady Bird Deed A Lady Bird Deed is a great tool to avoid probate and avoid estate recover/Medicaid Spend-down in Michigan as long as your plan on keeping the home a home. If you are looking to sell the home while alive, then maybe you should consider a Castle Tr...
lady bird deedstransfer on death deedsestate planningdeedsenhanced life estate deedMedicaidA carefully prepared estate plan often contains personal property which passes outside of the probate process such as beneficiary designations on bank accountsSocial Science Electronic Publishing...
lady bird deed. So a lady bird deed, it’s a great simple way to avoid probate and avoid a state recovery as we have it now. If our major concern is just avoiding probate, making sure your stuff goes where it’s supposed to upon death, we’re utilizing a lot...
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