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