Legal Question in Wills and Trusts in Texas

Re: Transfer house deed

Be VERY careful! A transer like this could waive the stepped up basis the estate would receive when the house is ultimately sold out of the estate. This means you would pay capital gains taxes which would otherwise exempted. Also, if your grandmother is on Medicaid, then the transfer would cause those benefits to cease until the value of the gift is used up. Talk to an attorney or CPA before attempting any type of pre-death transfer.

Re: Transfer house deed

If grandma is competent, and not on government assistance then she can do what she needs. If she is on Medicaid or SSI or a similar program, then she'll be penalized for transferring an asset. If she is not competent, then you'll either need a power of attorney (assuming she previously executed one) or you'll need her to execute when when she's lucid. If she's never going to be lucid, you'll need a guardianship to sell the house.