Is There a Downside to Getting a House As a Gift From a Parent?
My widowed father-in-law quickdeeded his house to my wife as co-owner in Tennessee. Is there a downside to this? I've hear...Read more
That’s problematic if the house is in a Medicaid qualifying trust. However, depending on the terms of the power of attorney, it may be possible to undo the transfer. That might take court action in order not to mess up the title to the property. I strongly recommend that your mother consult with a local elder law attorney who can look at the trust and let her know her rights.
For more on Medicaid and trusts, click here.