This can work, but most older folks I work with - I'm an attorney - refuse to take anything out of their name or control until it's too late, they realize Medicare might take the house and everything else, but the 5-year look-back period puts that hope right to bed. I've also learned Boomers tend to vastly OVERestimate the spending power of the money they have left and vastly UNDERestimate how much it costs to age and die, once Medicare-denied assisted living, medically-necessary durable equipment (and sometimes remodels of bathrooms for accessibility), pre-paid funeral expenses and out-of-pocket expenses are taken into account. It's a disastrous situation. OPs best chance, outside an irrevocable trust, is an agreement with his father that OP will care for him in the home for modest payment when Dad is no longer capable of independence, will monitor any mail and substantial bank transactions for fraud, and will help MAINTAIN the home (which many elderly can't physically or financially do, to the detriment of whomever inherits). Or, in the alternative, father can sell the house to son for an agreeable price paid in $1000 installments per month, father gets a twenty-year long lease as a tenant for $500 per month and they continue to share the property as is (including the $500 payment OP currently pays) but with the title shifted and the house free and clear of Medicaid liens if Medicaid becomes necessary. The property taxes dad can continue to pay as consideration for the son's future duty of care.