Legal Question in Wills and Trusts in New York

Re: Cutting fam out of will is it possible without a fight?

I agree with Arnold, but add that Mom should consder not only reserving a life estate for herself (by a new Deed to you now), but also reserving it for Dad if she wishes him to remain there. The new Deed should also be accomapnyied by something in writing and noratized, explaining who is responsible for the costs of maintaining the house, currently and after her demise. This would include mortgage payments, taxes, repairs and maintenance, utilities and the like. The side document should also explain under what circumstances the life estates can be terminated (such as abandonment of the property, going to a nursing home with no possibility of return to the house, etc.). I would not worry about the income tax issues, as if it becomes your principal residence and you ultimately sell it as such, you are entitled to certain tax breaks. I also suggest, as I have done in similar situations, is to try to have Mom examined on the date of the Deed by her regular doctor, who may be a witness to the Deed. Have Mom explain to him why this is being done, which is to avoid claims in the future by Dad and/or your siblings (who are being disinherited) for either incapacity of Mom and/or undue influence by you. Contact me directly if you need assistance.

Re: Cutting fam out of will is it possible without a fight?

If the title to the house remains solely in Mom's name,upon her death, it becomes part of her estate.

Without a will, Dad is entitled to $50,000 plus a third of the estate, the children share the balance.

He would be entitled to that even if Mom makes a will leaving everything to you.

You might be able to get credit for the mortgage payments you have made over the years, on the other hand, your siblings would argue that you did not pay rent and that was in lieu of rent.

If Mom gifts the house to you, reserving a life estate for herself, you would get the entire house at her death, but your tax basis in the house would be what Mom paid for it. Another possibility is for Mom to execute a deed to the two of you as Joint Tenants with right of survivorship. Upon Mom's death, you would get the stpped up tax basis on her half and own the entire house.

Feel free to call me if you wish to discuss this further.

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This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon in any way. All readers are advised to consult an attorney to address their specific legal concerns. Additional facts could affect the answer given.