A life estate is a legal right to live in a home as long as the life estate holder lives.  That right is reflected on the deed so it is more than simply a lease for life.  The ownership, in essence, is divided into two parts.   An individual who owns

If a family member is living in the home, New Jersey Medicaid has a policy of not forcing the sale but, again, someone other than the applicant must pay the taxes, insurance, maintenance etc. on the home.  This remains an option, however, for holding onto the home.  When the Medicaid

In the case of a single homeowner, it may also be advisable to keep the home as long as possible, although it is a bit more  complicated.  The reason for this is that Medicaid rules allow the applicant’s home to remain an exempt asset as long as there is a

In the case of a married couple the mistake families often make is to sell the home when funds begin to dwindle.  They may very well desire to downsize, move in with a child, rent, etc.  and we may agree that this is the best plan under normal circumstances.  However,