Legal Question in Wills and Trusts in Texas
Transfer of home
Dear Sir:
My mother is 81 years old and is still living in the house that she and my dad purchased in the 1950s ! She needs to move to an assisted living facility and wants to transfer the house ownership to her children. Question: Does she have to specify a particular child as receiver or can she list all of her five children? OR would it be better to set up a collective "trust" etc. for later distribution at the time of her death?
Thank you for your help!
1 Answer from Attorneys
Re: Transfer of home
Your mother can name all five of her children on
the deed to the house she wants to transfer. You
need to remember that if she does name all of the
children, each will have to sign the deed or a power
of attorney before the house can be sold after your
mother's transfer.
If your mother puts the house in a "trust" she can
put the house in the name of one of the children
as "Trustee" and then have the Trustee sell the house
at her death and distribute the funds to the children.
There are considerable requirements that go with
a "trust" and you probably need to consult an attorney
to establish one for your mother.
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