Home > Research Legal Advice > Estate Planning > My mother wants to tranfer her home over to me waht will we need to do, ...
Asked about 1 year ago - Chesapeake, VA
FlagWhat will the cost be to do this and Do we need a lawyer to do so?
There is much too little information given here to give you an appropriate answer. To actually transfer the home your mother could simply have a deed prepared and transfer the house from herself to you. This could be very inexpensive but I would advise hiring an attorney to prepare the deed. The problem is that we have no idea about your mother's estate plan or goals or why she wants to do this. Also, if the house is transferred to you, as the recipient of the gift you could have a large tax issue if and when you sell the house when compared to receiving the house via her estate.
The bottom line is that you and your mother (and it sounds like your brother) all need to visit with an estate (elder law, special needs) attorney to assess the full scope of the situation so that a big mistake is not made that has long-lasting effects.
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