<prompt> Human: My mother took care of my grandmother who was suffering from Alzheimers, eventually putting her in a nursing home, and it blew out all of the savings my late grandfather had put away. There was a fear at the time that the house she lived in would be possessed to pay for the nursing home, prior to the government benefits kicking in. My grandmother died before that happened, but my mother has been afraid the same thing might happen to myself if her or my father get in the same situation. They would continue to pay the taxes and take care of any other financial responsibilities for the home.At the time, I believe ownership of the house had to have been signed over to another party for five years or more before it was safe from falling into the hands of the government. I think now that limit is seven years, but I could be mistaken. The sooner we get it done the better is how my parents feel about it.Im thinking it would be a positive thing for my credit history which is in the upper 700s anyways, but I want to make sure Im not missing something that might make this a bad idea. Things like if I fell on hard times, or bankruptcy or something of that nature, wouldnt I lose their home in the process?For location information, were in the United States, my parents and the home is in Alabama, while I live in Georgia and own a home there. Any tax issues with that?If I was to die before they did, would I need a will to determine who to pass the home to if someone other than my wifechildren?Thanks for the assistance.EDIT: Ive noticed some discussion regarding the value of the home in regards to taxes - when purchased it was around 34,000 - I believe the value now is more in the 70,000 - 80,000 range.  <response>: You need to consult with a legal expert on family trusts. This is too important and complex for this forum, and there are too many variables not to pay a professional trust advisor.EDIT: also, if you title this in anyones name, you need an excellent umbrella insurance policy to avoid the risk of losing it in a lawsuit. Cheap insurance, but a proper trust is vastly superior. 