There seems to be a lot of stress going on and I am sorry to hear that. An Elder Law attorney who is well-versed in those areas should be able to discuss the matter with the banks. The one other problem that I see arising is the fact that the property is in Arkansas. You may need to discuss the foreclosure and probate matter with an attorney down. Once you speak to an attorney there, you will know what type of deficiency judgment the owners of the home may be facing and will determine if the bankruptcy is a viable option. When it comes to the bankruptcy, if your mother receives an inheritance within a certain period of time of filing the bankruptcy, she would be required to give notice to the Trustee and BK attorney and the Trustee ay have a right to claim some of the inheritance to pay creditors.When it comes to the estate planning, speak to an attorney in the Kenosha County area to determine what your mom and grandmother seek in the plan to protect assets.
Legal disclaimer: No attorney-client relationship is formed by this communication. Any recommendation/information given through Avvo should be considered only as opinion.Ask a similar question
I would have Grandmother set up a new estate plan with Mom inheriting in a thrid party special needs trust. If Mom is not receiving government benefits she can access the trust assets, but if she goes into the nursing home the trust assets will be protected. You need to verify that the elder law attorney you go to is comfortable with trusts. A good source of qualified attorneys is the elderCounsel.com website. The same attorney should be able to either help you with the house or refer you to the right attorney in AR.Ask a similar question
Normally an elder care attorney or estate planner will be able to negotiate with banks. However, I refer bankruptcy and foreclosure cases to attorneys who specialize in those areas.Ask a similar question