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My in-laws are interested in reducing their assets to the point where, in the future, they could qualify for Medicare paying for nursing home care. Their current assets include IRAs and a small apartment complex with a fair amount of equity.
The IRAs notwithstanding, how far in advance of needing nursing home care would my in-laws have to divest themselves of their other major asset, the apartments? Could they, for example, deed the apartments over to their grown children and thus eliminate the apartments from their assets for Medicare purposes?
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