Buying a house in trust for mom

[VerseVortex99]

My siblings and I are considering buying a small cottage and placing it in a trust for our mom, who is on Medicaid, so she has a place to live. Has anyone seen any major red flags or hoops we need to jump through with Medicaid for that idea?

 

[WackoJ]

That's thoughtful of you, my advice: just watch out cause Medicaid has strict asset transfer rules, a trust might trigger penalties unless done right, so consult an elder law attorney beforehand

 

[VerseVortex99]

That's thoughtful of you, my advice: just watch out cause Medicaid has strict asset transfer rules, a trust might trigger penalties unless done right, so consult an elder law attorney beforehand

Thank you for the heads up! It's essential to get our affairs in order with a lawyer before moving forward.