My Dad is in a rehab center from surgery and alzheimers. My Mom wants the house/property put in grown children's name. How do we go about this? The house is paid for.
2 Answers from Attorneys
You had the right idea in putting this in the elder law category. but it would be very, very unwise to try to do this without the appropriate advice. There are very serious consequences in transferring property under these circumstances if the intent or result is trying to shield assets from creditors. We do not know if this is the case - but most people ask for that very purpose. It could also seriously damage any chances of Medicare. In short, if you want to risk serious damage to your parents financial health, proceed with this plan without getting advice. To properly handle all of your parents affairs, your Mom (and perhaps your Dad) should see an Elder law attorney ASAP. If you want to help your parents, urge her/them to schedule something today or early next week.
Let me echo Scott's excellent advice.
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