MY RESPONSE TO MR. CAINS ARTICLE: LIFE ESTATES AND SIGNING SOMEONE ELSE'S NAME ONTO THE MEDICAID RECIPIENT'S DEED
[HERMAN CAIN'S ARTICLE SAYS BASICALLY: FOR THOSE OVER AGE 55 WHEN GETTING MEDICAID, YOUR PROPERTY MAY BE SEIZED AT YOUR DEATH TO "REPAY" THE STATE'S COSTS FOR YOUR HEALTHCARE IN A "RECOVERY" CLAUSE.]
MR. HERMAN CAIN HAS BROUGHT TO LIGHT A VERY IMPORTANT ISSUE FOR THOSE THAT SIGNED ONTO MEDICAID OVER AGE 55. HOW OLD WERE YOU, OR YOUR FAMILY WHEN SIGNED ON? HOPE YOU WERE UNDER AGE 55 WHEN YOU SIGNED ON, OR THAT SOMEONE ELSE'S NAME IS ALREADY SIGNED ONTO YOUR DEED, OF WHICH WILL GET YOUR HOME WHEN YOU DIE. "LIFE ESTATES," WERE MADE FOR THIS REASON. MY PERSONAL SUGGESTION IS A LIFE ESTATE RATHER THAN "PUR AUTRE VIE," WHICH IS THE SAME AS A LIFE ESTATE, WITH THE EXCLUSION THAT THE "LIFE TENANT," THE ONE ALLOWED TO LIVE IN THE HOME UNTIL DEATH, CAN NOT SUBLET THE HOME DURING THEIR LIFETIME. A LIFE ESTATE ALLOWS THE "LIFE TENANT" TO LIVE IN, OR RENT OUT, THE HOME UNTIL THEIR DEATH. WHOM IS TO PAY THE TAXES AND UPKEEP WILL BE SPECIFIED IN THE CONTRACT, IF NOT, THEN THE "LIFE TENANT," IS REQUIRED TO PAY FOR BOTH.
CARRIE GEREN SCOGGINS POLITICAL NEWSLETTER
