Question of the Day: "2 elderly sisters are beneficiaries of their deceased sister's Revocable Living Trust. As a result, they have "life estate-type" rights. The trust also maintains the house. The trust is running short of cash, and the trustees are considering getting a reverse mortgage on the house (presently free and clear, valued at about $225,000). If the house had to be titled in the name of the 2 women, solely for the purpose of executing the reverse mortgage, would the sisters' eligibility for Medicaid and SSI be affected?"

Answer:  A homestead would not disqualify the sisters from Medicaid and SSI benefits.  However, a trustee cannot transfer ownership  if sisters are only entitled to “life estate” benefits.

To locate experts in your state who can help you with this elder care matter, go to:

Joseph F. Pippen, Jr., Attorney at Law
Law Office of Joseph F. Pippen, Jr. & Associates

Largo, Florida  33771

Member of the national ElderCare Matters Alliance, Florida chapter

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