Legal Question in Elder Law in Pennsylvania

Re: selling my home to child

You asked about estate planning.

You need to speak with an attorney to review an estate plan. Everyone needs an estate plan. A good plan should be designed to protect in any situation. The situation you describe would probably not be a safe or effective plan even for the potentiality you think about.

There are a number of ways to transfer assets and yet protect the value of the property immediately AND the right of the elder to live there as long as they are able. One thing to think about is that you may be happier in your own home rather than a nursing home. In-home care is more and more accepted as an appropriate care, even with 24 hour care it can be cheaper than a nursing home.

All in all, the plan you suggest is more risky than the status quo. There are tools that can be designed to protect your assets and estate with less risk and greater control.

Regards,

Roger