Legal Question in Real Estate Law in New York

family home

I am one of six children my mother is 75 yrs old and I am living in and repairing her home ( she lives in an apartment) so she would not lose it to forecloser. My question is how do I protect myself if she dies. She states my sisters and brother knows thay did not help save the house and I am doing the work and putting my money in the house, but for me I need something in writting to protect myself. My mother does have a will and it states the home will be sold and she did say that it needs to be changed but it is not done yet (2 yrs), is their something I can write and have her sign to attach to the will with her siginature stating the home is mine or something stating that when she passes my siblings cannot come to me and state when the house will be sold because this is a family home.


Asked on 6/19/07, 6:07 pm

1 Answer from Attorneys
Graig Zappia Tully Rinckey PLLC

Re: family home

There are a number of things to protect you and your mom. First thing is to have her execute a power of attorney in the event she passes away - this will give you control over her estate. Second, have your mom get an attorney and change her will. This is very important and will ensure the house does not get sold to someone else. And last, again get with an attorney and if your mom is truly interested in transferring the property to you, have her simply deed it over to you. Since I do not have all the facts in front of me regarding your mother�s situation (i.e. Medicare/Medicaid eligibility), you may also want to check with an accountant to ensure you are not penalized by estate and/or other capital gains taxes.

Our firm works in these areas and would be interested in providing you further information. Please feel free to contact me anytime.

Thanks.

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Answered on 6/20/07, 7:53 am


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