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Is property held in trust subject to estate recovery by medicaid?
Wiki User
∙ 14y ago
If the trust is drafted properly by an expert in trust law, the property should not be vulnerable to creditors. For any trust needs or questions one should consult with an expert in trust law.
Wiki User
∙ 14y ago
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Do you have to pay medicaid back if you come into money in north carolina?
If you receive Medicaid benefits in North Carolina and come into money, you may be subject to estate recovery. Estate recovery is a process through which Medicaid seeks reimbursement for the costs of your care from your estate after you pass away. However, the specific rules and exceptions can vary, so it is advisable to consult with a Medicaid expert or local agency for accurate information based on your circumstances.
For medicaid purposes can a life estate property be transferred to another property without having to start all over?
No.
Does Medicaid have rights to a property?
For persons over age 65 and nursing home residents, the state may file a lien on real property and an estate claim to recover payments made by Medicaid.
What assets can Medicaid acquire once a Medicaid covered elderly person passes on after living in a retirement home?
Medicaid may file a claim against the estate of the deceased recipient, including any real property.
Can Medicaid take assets after a death?
Medicaid can file a property lien and/or estate claim to recover expenses from the assets of the deceased recipient.
Can property in a life estate be sold to an outsider?
The fee to the property can be sold but only subject to the right of the life estate holder to the use and possession of the property.
How does a life estate deed supersede a will?
If a person was granted a life estate in property and then the owner dies, the property remains subject to the life estate. Even if the decedent leaves the property to a different beneficiary in the will, the property passes subject to the life estate.
Do families have to pay back Medicare and Medicaid for a deceased relative?
No. However, for Medicaid, the State may file a lien on real property and/or claim on the deceased recipient's estate to recover assistance provided.
What does LE REM mean in a title of a property?
LE stands for Life Estate, which means the person has the right to the property until their death. REM stands for Remainderman, which means someone is to inherit the property once the current owner expires.
Does a life estate override a fee simple absolute deed?
Yes. If property is subject to a life estate and then it's conveyed by deed, the property remains subject to the life estate until the life tenant dies or releases their life estate in writing.
What has the author William Monroe Shenkel written?
William Monroe Shenkel has written: 'Real estate investment decisions' -- subject(s): Investments, Real estate business, Real estate investment 'Modern real estate appraisal' -- subject(s): Real property, Valuation 'Real estate finance and analysis' -- subject(s): Finance, Housing, Mortgages, Real estate investment, Real property 'Marketing real estate' -- subject(s): House selling, Marketing, Real estate business, Real property
Can a person you sign the deed in a life estate sell the property while you are sill living on the in the house?
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
