Legal Question in Real Estate Law in New York

There are several ways.

One would be to deed the property jointly to you and your child.

Another would be to create a trust and make your daughter the beneficiary of the trust and deed the property to the trust.

You could also leave the property to her in your will provided you are the sole owner and not married.

You could also transfer the property top her with a power to revoke the transfer at any time before your death.

This would take the property out of your name for Medicaid purposes but leave it in your estate for estate tax purposes.

Ideally you should consult an attorney knowledgeable in elder law and real estate matters.

You should have a will professionally drafted. Most lawyers will do a will for a few hundred dollars. This will ensure that your wishes are met exactly to your specifications.

Dave

http://businessattorneysny.com