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Updated over 3 years ago,

User Stats

34
Posts
24
Votes
Michael Douglas
  • Rental Property Investor
  • Portland - Raleigh
24
Votes |
34
Posts

Buying from and renting back to Mom

Michael Douglas
  • Rental Property Investor
  • Portland - Raleigh
Posted

Is there any strategy to preserve the equity in my mother's home that would not be undone by the 5 year Medicaid look back? She's 75 now and it is uncertain if she would be able to still live on her own long enough be safe from Medicaid forcing a sale to cover her long-term care expenses.

I've considered buying it from her and she pays me rent, but there seems to be some legal issues with that.

I've read some comments about a trust, but any insights would be welcomed.  Thanks.