My father is in under guardianship/conservator ship. My mother is in charge of his affairs. Can she sell her half of their joint assets (house, property) to one of their children? We are in Michigan.
It depends on how they own the house, in order to determine whether she may sell her half. If they own it jointly the way many spouses do, then it is likely she could not sell her half without the conservator's consent, which may require the probate court's consent.See question
My mom has been "working" on her will since 2007 and still feeling uneasy. She has named my brother "executor", but she knows not everyone trusts him (he is money hungry). I have tried to explain that she should have someone that can legally fol...
Your mother would benefit from speaking with an estate planning attorney. She might decide to name two co-trustees so there is a check-and-balance. She might also want to require the trustees to report frequently to the beneficiaries after her death, instead of annually.See question
My father is currently hospitalized with a grim prognosis of maybe one week until he passes. He has established a living trust in which I am the sole beneficiary of. This trust includes a home approximately $135,000 in value. IRA of $25,000, mo...
The trustee needs to follow the terms of the trust. There are specific steps that must be followed. A trustee may incur personal liability if those steps are not followed. If the living trust expresses your father's intent, then you may want to review the title on the accounts to see whether or not they are owned by the trust or name the beneficiary as the trust. If the IRA was larger, you might want to also have the trust language reviewed to make sure it has helpful IRA language in it. Also, check to see if an real estate was deeded to the trust or not. If you are is power of attorney agent, then there are likely several things you could do now while he is living that could reduce some cost and delay down the road.See question
...if everyone involved in the trust agrees.
If the family wants the answer to be yes, then this is possible. Generally, whover the beneficiary is of the trust is entitled to trust assets, including the real estate, if it was owned by the trust. If the trust does not have restrictions, and if it the real estate is distributed to a beneficiary, and if that beneficiary does use it as their principal residence (and does not have another principal residence at the same time) then this can be done. There are ways that beneficiaries or other trustees could try to prevent this from occurring.See question
She will be released on 5/17/14. We would like to pay her summer taxes before her money is gone. Is that allowable?
Yes, the property taxes on her primary residence may often be paid without a problem, but what is confusing to me is that you said she, "will be released," yet you would like to pay the taxes "before her money is gone. " If she is being released, then presumably the expense of therapy would be gone, which might leave money for taxes and/or home care? But there are often planning techniques that can be used that can be helpful for Medicaid benefits and/or Veterans benefits, which might help greatly reduce, or sometimes even eliminate, the cost of care in a facility, or home care.See question
Two of six siblings want her home left as is. She could live for many years yet, as she is quite healthy, except for dementia and a bad knee. Four siblings feel that her house should not be left to just deteriorate and should be rented out. Wha...
The previous two answers are very good. The first step would be to take a look at the durable power of attorney document to see what it permits, and if there are restrictions (such as, are doctor's notes required?) If she is in a nursing home, it may be possible to get Medicaid benefits. But rental income would have to be disclosed to the state. Some of the rental income may be kept to offset some of the house expenses.See question
How do I do this.
You may also want to consider a trust. And in the trust or will, include a solid no-contest clause.See question
I told him this is important to find out about since she is elderly. My friend paid for and has lived in the house in Michigan since 1975 and the house is all paid for. His sister is the guardian of the mother so would she be the one to sign off...
It's likely you need an attorney, depending on the reason for the guardianship. There is a way to protect the house. But it will be important to determine who has legal authority and capacity to do so.See question
What must the Trustee disclose and when? Right now he is taking things that are of substantial value from the deceased home. What are my rights ?
If you have not yet requested a copy in writing, you may want to check with an attorney about whether it may be helpful.See question
He's my father.
Yes. There are several ways to accomplish this, including certain deeds, trusts and wills. Each has advantages and disadvantages, and different costs. The scenario you describe is frequently done.See question