I would like to turn my mortgage free home over to my children. I am in my 70's . Is this advisable? How to go about it.?
1 Answer from Attorneys
While you may transfer your home to your children, before you do this you should consult with an Elder Law lawyer to determine if it is the best planning for YOUR future. Look for a lawyer who is a member of NAELA, naela.org - National Academy of Elder Law Attorneys - who will be able to give you the counseling you need. You should be able to find someone in your local area at that website.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.
* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.