Legal Question in Wills and Trusts in Ohio

Re: How to handle tranfer of real and property deed to 3 siblings

Is it possible to subdivide the property, and sell the smaller parcel to help with your father's expenses? As to the other answer, there are serious tax consequences as to any transfer done now, as it may be voided after his death.

Re: How to handle tranfer of real and property deed to 3 siblings

It really depends on more facts then you give. First, any transfer of property to avoid a medicaid lien would have to be before 3 years of receiving medicaid. The transfer before death would make the basis of the property for income tax purposes to be your father's basis which could produce a gain to each of you.Of course that depends on his basis which may have been increased when your mother died if she owned either 1/2 or all of the property. The transfer would eliminate probate but you can do that with a transfer to a living trust. As you see, you asked what you thought was a simple question which the answer for gets complicated depending on the facts. I'll be in my Columbus office next week so you can e-mail me to give more facts so that the answer could be more precise.