Is It True That A Nursing Home Can Take Your Assets, More Specifically Your Home If You Don't Transfer It To Next Of Kin 7 Years Prior? More Below
Location: Kentucky
So long story short, for years I have tried to inform my elderly parents of the importance of transferring their assets like their home and property out of their name before someone like a nursing home tries to leverage it in the event that they ever need to go. I am a single child.
They were in denial of their age and defiant during this time but now years later they have realized that they are older and in poor health and have decided they want to do something about it.
There's no intentions of admitting to a nursing home but as most people know, when older, it doesn't take much in the way of a health condition to require full time care. I'm also not saying they won't last another 7 years, I just wish they would have listened years ago instead of waiting until we reach this point to make these decisions.
Is the 7 year transfer prior to being admitted to a nursing home a real law and if so, what do I do in this situation? Thanks in advance.
*Edit, they are on Medicare not Medicaid
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