Legal Question in Wills and Trusts in Illinois
transferring title on real property
How can my aging parents transfer title of their home to me?
2 Answers from Attorneys
Re: transferring title on real property
You must also consider that if your parents are going into a nursing home, the transfer may be invalid unless it is done 5 years prior to the entry into the nursing home. In that case, seek the advice of an elder law attorney.
Re: transferring title on real property
There are many ways to transfer title -- through a will, a revocable or irrevocable trust, a land trust, by quitclaim deed, through a sale, etc. In order to determine which method of transfer makes the most sense in your parents' situation, they should consult with an estate planning attorney. Without the details of their particular set of circumstances, it is not possible to advise them properly.