If my father-in-law is in a residential care facility and owns a mobile home, what is the best way for him to turn it over to us?
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If my father-in-law is in a residential care facility and owns a mobile home, what is the best way for him to turn it over to us?
He had a stroke about 6 months ago. He owns a mobile that’s worth maybe $35,000. His veterans benefits are paying a portion of the cost of the facility where he now lives. He is willing to sign the house over to us so we can sell it. What kind of issues can we run into? My wife has a brother that has nothing to do with the family at all. Should we transfer to us and sell it or sell it under his name?
Asked on May 30, 2015 under Estate Planning, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
If your Father is able to give you Power of Attorney to transfer and sell his assets on his behalf and for his benefit then do that. Otherwise have some one appointed as conservator of his estate (and guardianship is also a good idea). If you are trasnferring his asset for your own pecuniary gain then I might speak with an attorney before you do that. Good luck.
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