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    Post: Picking the brilliant legal brains real estate-wise

    Posted by Carol on 6/15/07

    Hey all you brilliant legal practitioners, I could use a
    little feedback. My client's parents signed their house
    over to him ten years ago "to avoid probate. Dad is now
    deceased. House and land aren't worth much at all. Mom
    now wants to sell the house to a neighbor because she need
    money but wants to continue to live in the house. Problem
    is, now Mom needs Medicaid so she'd have to have a trust
    set up. Plus she wants to leave her kids a little
    something and the house is all she has. Simple answer I
    guess is deed it back to mom, sell it to neighbor with
    life estate to mom and set up medicaid trust. But then
    the state gets paid back everything they've spent at the
    end and who knows how much that will be. My client
    doesn't really want to take out a mortgage on it to give
    mom some money because he has this aversion to debt. Any
    suggestions or creative ideas?

    Posts on this thread, including this one
  • Picking the brilliant legal brains real estate-wise, 6/15/07, by Carol.

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