Legal Question in Wills and Trusts in New Jersey

properties gift to my children
Me and my husband (59 and 69 years old 40 years married) own 5 properties.One is our primary resident.Four is rental. Two is paid off , threes have very little mortgages.We been in this country since 93 and proudly US citizens.We worked hard and buy these properties for our retirement. three years ago i have an work related accident make me 65 % disable(my knee)and my husband have a car accident he lost his one eye.since i am not able to work my husband is working full time (he is already retired )have me health insurance.i can not have disability because i don't have enough SS points.i have three sons.they are telling me if something happen to us any long term sickness we can loose all our assets. to pay hospital bills.How can i protect my assets Can i give or gift to my sons but collect the rents my self ?In the future if any divorce happen in my sons lives what can happens my gift properties ?Is this any other way to protect my properties legally?
Thank you very much
Emine

Asked on 3/25/09, 11:54 pm

Michael Berman Law Offices of Michael A. Berman

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Re: properties gift to my children

Let's talk about setting up a family trust. Please write back to me at [email protected] and we'll set a time.

Mike

Answered on 3/26/09, 12:39 am

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