Life Estate Deed Alaska With Medicaid
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FAQ
Laws. Recording ? A quitclaim deed must be filed in the Recorder's District where the property is located. There is usually a fee associated with the filing and it is recommended to bring a blank check or contact the recorder before your arrival.
Which Medicaid expenses must be repaid? Federal law requires Alaska to seek repayment for the cost of all long-term care services paid for by Medicaid, including related drug and hospital benefits. States are allowed, but not required, to recover other Medicaid costs as well.
Ownership Changes Recording a deed is best handled through a Title Company. For those doing their own deeds, deed templates are often available online or at office supply stores. The deed must have the names and addresses of both the current ownership and the new ownership, and the legal description of the property.
The regulations are very specific, but generally speaking, if a deceased recipient of Medi-Cal benefits owns nothing on the day they die then nothing will be owed to the state. A Medi-Cal Planning Attorney can assist Medi-Cal recipients in protecting their estate from the Medi-Cal recovery laws.
Within a life estate, the life estate deed is a document that grants the owner the ability to pass on ownership of a property without including it in a will as part of a person's assets.