Legislative Bill 268, which creates liens against real estate transferred to family members for recovery of nursing home costs, has been advanced to General File.
In order for a bill to pass, it must make it through three rounds of debate and voting by the full Legislature. General File is the first round. After a bill passes all three stages, it goes to the governor to be signed or vetoed. If a bill is vetoed, the Legislature can override the veto with 30 votes.
Although there is no telling how long it will take for this bill to pass or fail, most bills approved by the governor become law three months after the legislative sessions ends.
If this Medicaid bill passes, DHHS will put a lien on real estate you gift to family members. Then, DHHS can enforce the lien to recover nursing home costs paid by Medicaid. It would also eliminate using life estate deeds as an estate planning tool to protect your real estate from Medicaid estate recovery.
Now is the time to put in place a succession plan to ensure you will have a legacy to pass onto the next generation. Contact us today at 402-336-2141 to discuss planning options.
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