Legal Question in Wills and Trusts in Virginia
Dad is 89, mother died last month, unmarried son resides in house still. Deed to double-wide in Mom and dad's name, is there anything that can be done at this late date to ensure brother will not have house taken away upon death of father if father has bills over and above his bank account? Dad has 50,000 in CD. If need to put him in nursing home or expensive dr. bills occur in the future, is there anything that can be done to prevent the house to be taken in foreclosure. Someone told me that dad maybe could sell the house to brother, in monthly payments and put in will that he gets it upon his death? Please advise or tell me who I can ask.
1 Answer from Attorneys
You might wish to arrange for a consultation with a local attorney to explore the
possibility of an owner financed sale of the property to the brother that would avoid possible charges of a premature conveyance in avoidance of creditors. In regard to the someone's suggestion, the father, however, could not sell the property to this brother and then attempt to pass it on to him in his will at the time of his(the father's) demise as he would no longer own it.
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