I’m in a tricky situation. My mother, who is 79 and showing signs of dementia, wants her house to go to my daughter (17). However, she hasn’t made a will yet, and she still has a mortgage on the house. I have a durable power of attorney that allows me to make decisions for her. My main concern is that my brothers, who have issues with drugs, might claim they’re entitled to part of the house. There are four siblings, but my sister agrees the house should go to my daughter. What can I do to ensure my brothers don’t get any ownership? Would a QuitClaim Deed, Transfer on Death, or putting the house into a trust work? I’m also worried about any tax implications. Any suggestions would be appreciated!
Definitely consult with an attorney to set up a Transfer on Death deed for your daughter. It can help avoid probate issues.
A trust might be a good idea too, especially if you’re worried about your brothers claiming anything. It offers more protection.
Make sure to discuss the tax implications with your attorney. Sometimes transferring property can have unexpected tax consequences.
Darwin said:
Make sure to discuss the tax implications with your attorney. Sometimes transferring property can have unexpected tax consequences.
Thanks for the heads up! I’ll definitely bring that up during my consultation.
You might also want to consider getting a will drawn up for your mom as soon as possible. It could clarify her wishes.
Corey said:
You might also want to consider getting a will drawn up for your mom as soon as possible. It could clarify her wishes.
That’s a good point! I’ll see if I can get her to do that.
Sounds like a tough situation. Do whatever you can to make sure your daughter is protected. Good luck!