Office Locations

In Brandon:

205 N. Parsons Ave.

Brandon, FL 33510

In Ocala:

1805 SE 16th Ave

Ocala, FL 34471

Income Producing Real Estate for Medicaid eligibility

EPIC helps Florida Elder Law Attorneys who represent clients in need of Medicaid long term care benefits. EPIC removes the hassles and uncertainties of owning income-producing real estate, which is one of the best planning opportunities available for immediate Medicaid eligibility.

Elder Law Attorneys Serving Elder Law Attorneys

EPIC is owned and operated by two Board Certified Elder Law Attorneys. EPIC does not work with the general public--we limit our services to other elder law attorneys.

Steps in The EPIC Process:

The Elder Law attorney determines the amount the client needs to invest in income producing real estate, based on Medicaid Asset Limits.
The Elder Law attorney completes and submits the EPIC Request for Services form.
EPIC selects the appropriate property or properties from its portfolio and pending contracts, based on the amount of the potential investment.
EPIC sends the Elder Law Attorney a proposal with the exact net monthly rental the client can expect, with a Contract For the Sale, Lease and Purchase of Real Estate.
The Elder Law Attorney returns the Contract, along with a cashiers check or trust check for the full amount of the investment, to the title company designated by EPIC.
The Elder Law Attorney prepares a trust for the Client to take title to the investment property, to avoid probate and estate recovery issues. (EPIC provides trust forms for the attorney's use).
The Title Company sends closing documents to the Elder Law Attorney for the client's signature (HUD-1 closing statement and affidavits).
At Closing, the Elder Law Attorney receives the client's deed to the property, and the client leases the property to EPIC for a guaranteed monthly rental payment over a five-year lease term.
At Closing, EPIC sends the first month's rent check and a Broker's Opinion Letter certifying the rental is fair market value.
After the client's death, EPIC repurchases the real estate from the client's trust, at a price agreed to in the original Contract. The terms of the client's trust control distribution of the sales proceeds.
From the time EPIC receives the Request for Services form, until the client owns income producing real estate, is usually no more than 28 days

Understanding the EPIC Process:

The Elder Law Attorney's client buys a whole or fractional interest in one or more income producing properties. The Client receives a deed showing their ownership interest. If more than one person owns a property, it is owned tenants-in-common, based on the percentage of the purchase price contributed by each owner. If a client owns interests in more than one property, they will have a separate deed for each property.

EPIC rents each property from the owners. EPIC then subleases the property to the ultimate tenant. EPIC receives payments from the ultimate tenant, and EPIC uses this money to pay all taxes, insurance and maintenance. EPIC also pays a fixed, net rent amount to the owner(s) of the property. If the property is owned by more than one client, the rental income is divided pro rata based on the percentage of ownership interests.

Within six-months of the client's death, EPIC repurchases the client's interest in the real estate from the client's trust. The price is set in advance, before the client ever purchases the property. The amount of guaranteed repurchase will vary by case, but is fixed in the original contract. EPIC will pay the guaranteed amount, and the client's successor trustee will deed the property back to EPIC. The trustee distributes the sales proceeds to the beneficiaries of the trust.

Click to Download our
'Request for Services' Form in Adobe pdf format

REQUEST FOR SERVICES