life estate
my mother has about 150,000 in the bank and a home worth about 105,000.she suggested she sell the home and buy a larger one with the sale proceeds and cash in the bank,and have myself and family move in . upon her death the house would revert to me. the fear I have is if she needs 24/7care in a nursing home will medicaid take the home if its her name? If so should I put it in her name?What is the best way to protect myself? Life estate?
Re: life estate
Good questions; sounds like you've got a pretty good grasp on some of the strategies available. Unfortunately you need a detailed answer to your very important question, and a detailed answer really needs a close look at exact facts and circumstances. That can't be done on this bulletin board format.
Good luck.
Rick Bryan
New York, NY
Re: life estate
Good questions; sounds like you've got a pretty good grasp on some of the strategies available. Unfortunately you need a detailed answer to your very important question, and a detailed answer really needs a close look at exact facts and circumstances. That can't be done on this bulletin board format.
Good luck.
Rick Bryan
New York, NY
