elder care
my 98 year old father lives with us. he is in good health and sound mind. he wishes to buy a house for himself and us. we will be living together. i will be paying the mortgage payments. are the any legal issues i have to be concerned with? how can this investment be protected should he require long term nursing home care?
2 Answers from Attorneys
Re: elder care
God bless dad. I hope you got his genes.
Yes, there are lots of legal issues and entanglements which you are going to cause and will be difficult to unravel if you're not careful. There are really a lot of issues to consider and quite frankly you're not going to get good solid advice for free on the internet. Your situation is very interesting and the answers need to be very carefully considered. Potential nursing home protection is only one of many issues, and no lawyer is going to tell you and dad how to structure the transaction without a thorough understanding of the facts and answers to dozens of other questions.
Good luck.
Rick Bryan
New York, NY
Re: elder care
I agree with Rick. You do not want to make a move like that without having a thorough consultation wherein you provide the attorney with very complete information. It is too complicated a scenario to treat in a question and answer forum.
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