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Anyway, to your point, he can inherit. He can sell, he can buy, he can rent, he can gamble in the stock market, he can spend on international dating services, the only thing he cannot do is TRANSFER ASSETS to someone else for 5 years. Whatever plans he has are stupid or lies. Any money to BOB unless documented carefully for caregiving or something else of proper value puts him in a position for NO care at all down the road.
I have to let this roll off my back. I will block messages if I have to to have a weekend off.
Yes, he CAN transfer assets before 5 years. It will all just go to Medicaid, which is where he is ultimately headed anyway.
Quote:
Originally Posted by jencam
Anyway, to your point, he can inherit. He can sell, he can buy, he can rent, he can gamble in the stock market, he can spend on international dating services,the only thing he cannot do is TRANSFER ASSETS to someone else for 5 years. Whatever plans he has are stupid or lies. Any money to BOB unless documented carefully for caregiving or something else of proper value puts him in a position for NO care at all down the road.
I have to let this roll off my back. I will block messages if I have to to have a weekend off.
No he won't be in a position for NO care. He will be eligible for Medicaid-funded care.
I guess so. IDK but today is funny. 'I want to sell now' he says. 'I have a buyer for 80K'.
I offered 40K. And then 50K. Silence. My good friend is a realtor and my Aunt was a realtor. They know what the house is worth. So does he. He's at it again.
In a hot market it doesn't have to be in good condition. My friend and I look at photos all the time and go OMG at the condition and the final sale price. It goes up everyday. It has gone up over 10K in the past 30 days.
He's not taking my offer, so I call shenanigans.
Anyway, to your point, he can inherit. He can sell, he can buy, he can rent, he can gamble in the stock market, he can spend on international dating services, the only thing he cannot do is TRANSFER ASSETS to someone else for 5 years. Whatever plans he has are stupid or lies. Any money to BOB unless documented carefully for caregiving or something else of proper value puts him in a position for NO care at all down the road.
I have to let this roll off my back. I will block messages if I have to to have a weekend off.
What is the true value of the house? Why would you offer to buy him out and then have to deal with moving him or evicting him? If he has a buyer, grab your half and be done with this.
What is the true value of the house? Why would you offer to buy him out and then have to deal with moving him or evicting him? If he has a buyer, grab your half and be done with this.
A lot more than $80K. And he wants to sell now, which we cannot even legally do. It's just nonsense. Some sort of scam.
What is the true value of the house? Why would you offer to buy him out and then have to deal with moving him or evicting him? If he has a buyer, grab your half and be done with this.
Great advice! But isn't this what people have been telling her for years?
Oh I see. You're here to criticize. I guess I will just let the thread die if that is all that is being offered. I am not trying to drag anything out beyond the legal things that must be done that do not happen after only 4 business days. That is how long it's been. 4 business days. There are laws and procedures that must be followed.
Jencam, you opened a thread to talk about your troubles and how long they've gone on, then take comments meant to help you move along as criticism.
From what I can gather, you have put this off as long as the law allows.
There are indeed laws and procedures that must be followed. Time to do that. Person can get a lot done in 4 business days.
From what you've said, the will has been located, nobody is contesting it, and the court has approved you as the executor. From what I've read, in Texas such uncomplicated are generally probated within 6 months or so.
Time to get moving.
One of the largest things on the list is dividing the proceeds from the house. Sounds like your brother is offering varying amounts for you to sell the house to him. Perhaps a professional appraisal might be a good place to start.
Your friend the realtor says it is worth $200K. If the appraisal comes in at $200K, then it seems like your brother would have to come up with $100K to buy you out.
Or you can continue as you have for the last four years.
Did your mother specify in her will that the house would be co-owned by you and your brother in perpetuity?
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