answersLogoWhite

0


Best Answer

If you want to ruin your child's future by handing down the worst credit burden in history. You should think about selling what you have in order to pay off the nursing home. * There are many options for protecting ones assets and property from seizure by creditors regardless of the reason. The best option would be to discuss the matter with an attorney or financial advisor to determine what type of trust or other legal instrument would be the most beneficial for all parties involved. Children are NOT responsible for medical bills, nursing or long-term care costs, etc. of a parent unless they agree in a written contract to accept the financial responsiblility.

User Avatar

Wiki User

17y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Would transferring your assets and property to your child prevent them from being attached for the cost of nursing home care?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How can you prevent a nursing home from taking an estate left to heirs?

If the property was in the name of the decedent then it became part of the estate. If the decedent owed a debt to the nursing home for care it provided that was not covered by insurance or any government benefit the nursing home can make a claim against the estate. The estate must pay the debts of the decedent before any property can be distributed to the heirs.


He has a life estate moved to a nursing home can the owner of the home go check it?

Yes. If the life estate holder has been moved to a nursing home and you think it's a permanent move then you can take charge of the property in order to prevent loss or damage. You are the fee owner. If it's a temporary move you can still take charge of the property during the nursing home stay. The property can't be mortgaged or sold as long as the life estate holder is living without their consent.


What is the best method to prevent injury from lifting and transferring patients?

Eliminate manual lifting


Will improved building codes prevent property loss during a tornado?

They cannot prevent property loss but they might be able to reduce it.


What crimes could prevent you from being a nursing assistant in Ohio?

Rape and murder


Why does swabbing the skin before an injection help prevent infections?

If there is any micro organism or bacteria on the skin swabbing would prevent the needle from transferring it into the blood stream.


How do you prevent electronics from transferring heat to wood furniture?

By allowing for more clearance, with shims or something similar, or a fan.


Can a private school give a bad reference about a student to prevent them from transferring to another school?

As long as the reference is correct and truthful, there is nothing to prevent them from giving a reference, good or bad.


Does transferring a deed of mortaged property to a child prevent creditors from placing a lien on the property?

Generally, the transfer of title to real estate to avoid creditors is against the law and is ineffective. The creditors can still attach the real estate by legal process. That type of transfer is called a 'fraudulent conveyance' and is extremely repugnant to the legal system. You can read more about it at the link provided below.


Can tranfure of ownership on property take place if a judgment is filed on the owner of the property being sold?

Generally, yes, a person can sell property to whomever wants to buy it, and it often the only way to pay off a judgment against them.Even a lis pendens attached to the property itself does not prevent the owner from selling it, as long as the buyer is willing to take the purchase subject to the results of the pending lawsuit.


What can you wash your swimsuit with after swimming in a pond to prevent transferring algae to swimming pool?

Regular clothes detergent should suffice.


What happens to the seniors's home and personal property when they're placed in a nursing facility And is there snything that can be done to stop this from happening?

When seniors are placed in a nursing facility, their home and personal property typically remain in their possession. However, if they need to rely on Medicaid to cover their nursing home expenses, there may be implications for their home ownership. Medicaid may place a lien on the home, but it typically cannot seize the property during the senior's lifetime. To prevent these issues, it's advisable to consult with an elder law attorney who can provide guidance on estate planning and asset protection strategies.