Parents want to take care of their children. This is generally true regardless of how old their children are. Even when the Georgia parent is past retirement age and beginning to become worried about Medicaid planning and the possibility of nursing home care being required, the parent will often attempt to find a way to both take care of his/her Medicaid concerns and also make sure that the children receive their anticipated inheritance.
One way that older parents may attempt to protect their children's inheritance is by going ahead and giving the family home to the children. This is often done by using a quit claim deed granting ownership to the children. Unfortunately, there can be several problems with this. In addition to the home now being vulnerable to the children's creditors and the possibility of increased taxes in the long run, this action may prohibit the individual from receiving Medicaid benefits when they are needed most.