I am 57 and married with two adult children. We own our home and one auto. Husband is 60 and is ill, no longer working. His illness has progressed and may have to put him in a rest home in the future. I am concerned with the title of our home! Should I put my children's names on the title with our or what. I am a para at local school and retire in 4 years. I just want to protect my home if husband goes to rest home!
1 Answer from Attorneys
There are too many considerations, to tell you whether you should transfer title to your home. You cannot provide enough information here to address them all. You and your husband should consult directly with an elder law or estate planning attorney. Many offer a free or low cost initial consultation. You might choose to transfer the house into a trust instead of directly to your children. You would be wise to decide soon, as the government can go back several years to undo some transfers. If your husband gets Medicare assistance to pay for the nursing home care, that would trigger the reach back time.