I might consider that seeing how people were standing in line waiting to swoop down and take everything FIL had to his name. The family always thought one of the grands would get his house because FIL's father helped build the house with his own 2 hands and it was paid off decades ago. NOT SO. With the state lining up, whatever creditors, nursing home and everyone and their brother standing in line with their hands out, the regular person hasn't a chance fighting this. Somehow the authorities got the house and sold it against the family's wishes. Now a stranger lives in it.
And forget about signing it over to a family member when you first learn you are sick and might have to go into a home at some point. The authorities already thought of that and if you want to sign your house over to a family member you must do it 7 YEARS before you know your sick in my state.
They have stacked the deck against the average citizen and they will get your wealth any way they can. Rant over. Here is the Lady Bird deed:
A Lady Bird deed is a type of estate planning tool that allows a property owner to pass their home to a beneficiary while retaining the right to use the property during their lifetime. It's also known as an Enhanced Life Estate Deed or Transfer on Death Deed.
How it works
The owner, or grantor, names a beneficiary to receive the property after their death
The grantor retains the right to use the property and make changes to the deed while they're alive
The property automatically transfers to the beneficiary when the grantor dies, bypassing probate
Benefits
Medicaid eligibility: A Lady Bird deed can help a Medicaid beneficiary keep their home from being used to pay back Medicaid costs
Estate settlement: A Lady Bird deed can reduce the time and cost of settling an estate
Family discord: A Lady Bird deed can help avoid disputes that can arise during probate
Limitations
Lady Bird deeds are only available in some states
Some title insurance companies may be reluctant to insure properties subject to a Lady Bird deed
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