tenancy in common and public aid claim after death?
I plan to buy a condo for my senior citizen parents and put their names on the deed (required by the condo Assosciation). My parents might use public aid (such as medicaid) in a few years. I heard that after they pass away, their assets will be claimed towards the aid they consumed.
Could anyone help me to look at this solution to see if this is feasible:
My parents and I co-own the condo by tenancy in common, so that I have a much greater share, say 99.9%, and they have 0.1% (Indeed I will pay for the condo). If they pass away, only 0.1% of the property can be claimed towards the public aid.
Thank you very much in adance.