Elder law/land protection
In trying to protect my parents assests/property, is it easier to set up a trust- to facilite estate transfer - or is it easier just to add a name to the deed of the property? I think a trust would avoid some taxes?-But does that restrict the power of the trustee to dispense the property when they want to using their POA?? Would a simple-(I think?-) name addition to the deed - guarantee that the person would receive the property upon death with the leas amount of fuss?
1 Answer from Attorneys
Re: Elder law/land protection
Listen: there's a lot at stake here. Don't be foolish and try to do you own Medicaid planning using free advice on the internet. You've obviously already done a lot of research; this isn't like changing a garbage disposal unit. These are very specific technical questions you're asking in a very technical area of the law where the stakes are high and the risk of error is everywhere. You already know more than any advice you're getting for free on this bulletin board. Sorry.
Good luck.
Rick Bryan
New York, NY
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