VA loan and death (lawyer, state, buying a house, bank)

[lostsoul62]

I was thinking of buying a house on the VA Loan. I'm 69 years old. Assuming I had $50K in the bank when I died in lets say next year. Even if I had a trust to give all my money to the SPCA, more than likely they wouldn't get anything. By the time they sold my house for less the I bought it for and paid everyone off there might be five or ten dollars left? So if this is true I figure to go into a retirement center and then when I died the SPCA would get all my money according to my trust?

[SouthernBelleInUtah]

This is a legal question best asked of your lawyer. Varies by state.

[Silverfall]

Originally Posted by lostsoul62

I was thinking of buying a house on the VA Loan. I'm 69 years old. Assuming I had $50K in the bank when I died in lets say next year. Even if I had a trust to give all my money to the SPCA, more than likely they wouldn't get anything. By the time they sold my house for less the I bought it for and paid everyone off there might be five or ten dollars left? So if this is true I figure to go into a retirement center and then when I died the SPCA would get all my money according to my trust?

You need an attorney that specializes in estate planning.