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February 4th, 2012

The home may be protected from Medicaid in many ways such as transferring it to a spouse who is remaining in the community, transferring it to a care-taker child who has lived in the home for the previous two (2) years, selling the home to family members for a private annuity, selling it to children for a Promissory Note that is forgiven, and transferring of the Home subject to a Life Estate. There are tax ramifications to these options that should be considered and reviewed with your attorney before making any decision and variations of the law from State to State will affect these options.

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