Category Archives: Life Estate
Handing Kids Keys to Your Home Is Never Good Estate Planning
Transferring ownership of the family home to an adult child may seem like a simple approach for avoiding having the house go through probate, or even qualifying easily for Medicaid. However, this seemingly simple solution comes with many problems, including taxes and the potential for years of delay for qualifying for Medicaid. That’s the… Read More »
How Does a Life Estate Work?
Life estates are used for a number of estate planning purposes. However, the most frequent strategy is to use a life estate where a parent transfers a home to a child and retains a life estate for themselves. nj.com’s recent article, “How does a life estate work to transfer a home to a child?”… Read More »