Wednesday, July 13, 2011

Protect home from Medicare "poverty clause", Kansas?

I understand your dilemma completely. My husband and I bought a house with a large down payment. Now, we would like to move my aging, retired parents into it and we would move into another house close by. We are trying to help take care of our part of the aging generation, but simultaneously protect our own investment. Every way we turn, it seems that the government gets their fingers into our little pie. We don't want to scam anyone and certainly believe in paying for what you get. But for a lot of people, paying for their home is all they have been able to do for their families and all they have to show for their work over the years. I agree with you and with others who argue that you should pay for the care you receive. However, I agree with you that it shouldn't come at the sacrifice of a family home when that home has been bought over the years through work and personal responsibility. There is a greater societal interest in protecting the fruits of hard work and responsibility than making sure that exorbitant health care bills (inflated by a greedy health care system) get paid. Some states provide that protection. Mine doesn't. I don't know what the answer to your question is, except that an attorney may be able to help you deed the property in such a way to provide some protection, but you don't want to do anything that would constitute a fraudulent conveyance. I think you are asking if there is a legal way to protect your home. I hope there is and that you discover what it is. I am not much help, but I did want you to know that I empathize with you and the situation you're facing.

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