My parents home ( paid in full ) my mom is deceased, her name is still on deed. Should my dad add my name to the deed of the house ? or in his will he has named me as executive to estate ( its my brother & I ) ???? if he becomes ill and has to go to assisted living or a nursing home , what is the best thing to do ( add name now to deed ) ???? pr will ????
1 Answer from Attorneys
There are many ways to deal with this situation, and they each have different tax, medicaid eligibility, and other consequences. You need to consult with a lawyer who deals with elder law and estate planning issues and go over the specific circumstances of your family to decide what is best. Do not do this without getting proper legal advice first.