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Speaking from recent and current ongoing experience: even if you did trust them today, it is quite shocking what people will do when thet person dies, especially if there are inlaws involved.
Get that house in your name immediately - your options could well be you either have to sacarifice your portion of the house or pay mega bucks for a lawyer to get what's yours.
It should be in your name and not your mother's anyway - if she gets sick or has to go to a nursing home, that house could be sold to pay for these expenses. Let the government pay for it - we constantly pay for low lifes and why not let them pay for someone that deserves it.
Speaking from recent and current ongoing experience: even if you did trust them today, it is quite shocking what people will do when thet person dies, especially if there are inlaws involved.
Get that house in your name immediately - your options could well be you either have to sacarifice your portion of the house or pay mega bucks for a lawyer to get what's yours.
It should be in your name and not your mother's anyway - if she gets sick or has to go to a nursing home, that house could be sold to pay for these expenses. Let the government pay for it - we constantly pay for low lifes and why not let them pay for someone that deserves it.
I hope your mother will put it in writing in her will that you can live in the house until you pass! I assume your brothers have their own homes? If it's not in writing, ooohhhh, I'd be careful -- especially with the one who is the executor. My father doesn't have anything, anyway, so we have no inheritance. But if we DID, I do have a sister I wouldn't trust at all -- however, there is nothing to split, so at least I don't have to worry about that. If it's not in writing, try to GET it in writing! Maybe she can put you on the title. You've got to have your "back-up plan."
It sounds like a great set-up, actually! As long as you can stay there, what you get in S.S. should get you through. It all depends on each individual situation. You're lucky you get along with your mom and that she has that guest house. Just be sure to try to get it in writing that you can stay there if something should happen to her.
Good luck!
Ditto and so true. Both your mom and you should have a revocable trust. Your mom would deed the house to you in her trust, and you would deed it to your brothers or whomever on your passing. Lawyers charge about 800 for this but you can do your own trust and one for your mother with her participation with a great book on revocable trusts from Nolo Books. As Wisteria implies, there's nothing sacred among siblings when it comes to inheritance.
Your mother should add your name to the house as well as hers now so there isn't any problems after she passes. That is what my mother did.
Anyone's name on the deed can affect creditors. If you or your brothers are on the deed and one of you gets into debt a lien could be put on the house. Your mother may not like putting just your name on as she may see this as unfair to the others. Have her put the house in a trust asap, see Nolo Books.
Have her put her instructions in her will, and the executor has to follow it. No ifs, ands or buts.
I would suggest not adding your name to the deed, since that will affect the step-up value of the property.
No, I'm not a lawyer But I'm the executor for my Mom's 'stuff' when she passes.
(Hope you don't mind me calling you Brat. That's my family nickname, and it's fun calling someone else that!)
A will alone in many states is not enough = it's not meant to transfer property and investments and cash, as a will only in some states entails Probate Court and this takes months and lawyers costs. Do the revocable trust, get all her assets with the house named to the trust with daughter as primary beneficiary and then backup beneficiaries. The only problem is that the brothers may see this as unfair, but you can word it so it says you are all the inheritors but you get to live in the house for life. Consult a lawyer in your state, try to get your mom to go with you.
It should be in your name and not your mother's anyway - if she gets sick or has to go to a nursing home, that house could be sold to pay for these expenses. Let the government pay for it - we constantly pay for low lifes and why not let them pay for someone that deserves it.
I don't know how a trust affects nursing home stays, but in many states there is a look-back period of how long ago you had to have transferred the house and money out of a parent's name. In my state it's five years. I have a friend whose mom is in a nursing home and they had to sell her houes. They transferred the house and cash savings out of her name only 3 yrs ago. Guess what, the nursing home got everything. And they are not that well do to.
A will alone in many states is not enough = it's not meant to transfer property and investments and cash, as a will only in some states entails Probate Court and this takes months and lawyers costs. Do the revocable trust, get all her assets with the house named to the trust with daughter as primary beneficiary and then backup beneficiaries. The only problem is that the brothers may see this as unfair, but you can word it so it says you are all the inheritors but you get to live in the house for life. Consult a lawyer in your state, try to get your mom to go with you.
Oops - I was typing too fast. My head said will and trust, my fingers didn't obey
The only thing that isn't in my Mom's trust is her car - and I'm co-owner of it.
I hope you are able to get this taken care of ASAP! If it ain't in writing and you have misgivings about how your brother might handle the situation, it's a good probability you might end up on the street. What Wisteria said is of vital importance, GET IT IN WRITING! If you do what, Plantlover, suggested, about getting your name listed on the house, that would be one of the best solutions. If that doesn't pan out, then there are alternative housing solutions that should be available to you if push comes to shove other than a cardboard chalet.
Talked to my mom yesterday. The house and property are in my brothers name. She assured me that she TOLD him this place is mine as long as I want it but I still don't trust him. It irritates me how she thinks the sun rises and sets on him when *I* know...and my sibs also know...he's not really 'worthy' of her adoration. I think it's just that he reminds her more of our dad than the rest of us and I get tired of hearing "He's JUST like his father" 'cause he isn't.
I told my mom I have no desire to find myself either out on the street or have to get married again to just survive!!!!!! lol
Have her put her instructions in her will, and the executor has to follow it. No ifs, ands or buts.
I would suggest not adding your name to the deed, since that will affect the step-up value of the property.
No, I'm not a lawyer But I'm the executor for my Mom's 'stuff' when she passes.
(Hope you don't mind me calling you Brat. That's my family nickname, and it's fun calling someone else that!)
Funny, Brat has always been MY family nickname as well. lol When I chose that nickname for here it was because I didn't want to be a Desert RAT! And besides that name was already taken. The other day I was reading an old thread and found one of my really old posts. I actually joined CD in 2006, posted a few times and then didn't come back for a while. Quite a while evidently! Couldn't get back on with my old member info so had to start over.
My mom has already put my brother on the house and won't consider putting anyone else on it. She expects me to just TRUST that my brother will adhere to her verbal instructions...I don't! Actually I would expect him to sell the place and pocket ALL the money. That's how little I trust him.
It irritates me how she thinks the sun rises and sets on him when *I* know...and my sibs also know...
Speaking of nicknames ... my sister and I call my brother The Golden Boy.
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lol
