Legal Question in Elder Law in Massachusetts

real estate trust and will

I am the caregiver for my mother who is 75,handicapped and has never handled her own finances. My father died suddenly without a will, leaving a house , a car, an Ira, and a CD.

I have one brother who pretty has done zero. He visits her once a year.

She can be difficult so I don't blame him too much.

She has no friends or other relatives or church(by her own choice).

When Dad died she lived 1 hour away, and I had to commute several days per week(giving up income by missing work). It became apparent that this wasn't going to work, so we gave her the choice to move closer or go into assisited living or stay and hire help. She chose to buy a house in our neighborhood. The prices were higher, so we bought the house jointly and put it into a revocable real estate trust with us a 33 percent owners, We are joint owners with the house passing to us entirely when she dies.

My brother and I are on the CD(ITF)

and he is the sole beneficiary of the

IRA.

If she were to die now, I would be ahead of him about 72,000. But if she requires a nursing home the house would be sold, And I would get out only the percentage that I put in. Is there a better way to handle this? I do feel that I deserve more(not all). Thank you


Asked on 10/11/07, 9:39 am

2 Answers from Attorneys

Re: real estate trust and will

There may very well be a better way to do this. I would have to review everything in detail and determine the likelihood of your mother entering a nursing home in the next five years.

Also I would have to look at her current income and other items.

Please feel free to contact me without obligation to discuss the matter briefly and to set-up an appointment without obligation.

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Answered on 10/11/07, 10:27 am
Denise Leydon Harvey Harvey Law Offices

Re: real estate trust and will

More information is required before answering this question. You should consult an elder law attorney to insure that you are protecting your mother and her assets to the greatest extent possible.

Please let me know if I can assist you.

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Answered on 10/11/07, 11:45 am


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