WHAT TO EXPECT
our simple, streamlined process
We get it. The frustration with figuring out how to qualify for long-term care Medicaid. The concern of all that comes with a rental property solution. Your mind can be at ease; the process is simple.
Discuss all available strategies with your elder law attorney. Your attorney will help determine if Foresight Income Solutions is a good strategy for your specific situation. If you do not already have an elder law attorney, please let us know and we will be happy to refer you to one of our highly trusted affiliated law firms. We are not a law firm and make no independent analysis to determine if our service is appropriate for your needs. We rely on the advice and counsel of your lawyer’s advice.
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Once the decision is made to use an income-producing property to qualify for Medicaid benefits immediately, your elder law attorney fills out a request for service. This must be done by the 16th of the month for a guaranteed same-month close. Orders taken after the 16th will be taken on a case-by-case basis and are not guaranteed to close that month unless confirmed in writing by our office. A rush order fee may apply.
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Foresight Income Solutions procures a closing statement from the title company and a licensed real estate broker’s expert opinion letter concerning the fair market value of the property. These are given to you and your attorney for review. This will inform you of what you will be purchasing, how much of the purchase amount is allocated to the income-producing property, how much the closings costs will be, and how much rent you can expect to receive monthly.
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The closing documents are signed by all parties involved, the deed of conveyance is recorded, and title policies are issued by the title agency. Your role is to simply pay for the income-producing property and sign the necessary documents. Everything else will be handled for you. After the purchase concludes, you will be enrolled in monthly direct deposit of your rental income by the management company overseeing the property. Monthly rents will automatically be deposited into your account of choice by ACH deposit.
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Foresight Income Solutions takes care of all of the details so you don’t have to. One-stop on your way to full Medicaid eligibility. We make protecting your assets the easiest part of the process.
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