John Ciafone | Queens Scene

QueensScene My mother owns a two family house in Astoria. She is getting into her late seventies. I was reading that for the purposes of Medicaid, the house should be removed from her name. Can you please advise? Any transfer of your mother’s house for purposes of Medicaid is sub-ject to a five year look back period. In other words, if you transfer the house into a Trust or another part or entity, Medicaid will have a claim on the equity of the house for at least five years from the date of trans-fer. Mom can immediately get Home Medicaid. However, there is a $786,000 equity limit. Any monies received or transferred above that equity amount will not be excluded from Medicaid unless mom waits five years to apply. Fortunately, the New York state Legislature has just overrode the Federal law which now excludes Life Estates in Medicaid Recovery. Up until last week, Medicaid could recover for a life estate given to your mom. Now it can’t. This dramatic change in Med-icaid now brings back an open welcome for granting and giving life estates to seniors and having them protected from Medicaid Recovery. I highly recommend giving Mom a life estate in the transfer of the property, while transferring ownership outside her name. “ON THE LAW” with JOHN J. CIAFONE, Esq. Attorney & Counselor at Law 25-59 Steinway St./Suite 2F, Astoria (718) 278-3900 SERVING THE NEEDS OF OUR COMMUNITY 24 HOURS/7 DAYS If you have any questions; please Call: John J. Ciafone, Esq. Question: Answer: June 2018 Page 29 <pagedata>28:0.0608207062:0.918350697:0.941148996:0.0806076229</pagedata>