Legal Question in Wills and Trusts in Texas
Power of Attorney vs. life estate clause
My mother just passed away. Her and my dad made out a warranty deed 15 years ago to my sister and I. My dad is in a nursing home under medicaid. There is a clause saying they will have the right to live in the home or have any money such as sale of property or rents as long as they live. We have power of attorney for my dad to handle his affairs. Since my dad is in a nursing home under medicaid does the state get the money from the sale of the property or do we get it as power of attorney.
1 Answer from Attorneys
Re: Power of Attorney vs. life estate clause
The proceeds of a sale of the property belong to your father according to the terms of your post. That being so, it is an asset medicaid is entitled to under their rules and regulations.
I would not sell the property while your father is living if you have a choice. After his death the proceeds can be split between the children. Prior to his death the proceeds belong to him or whatever agency has a right to them under law.
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