Quote:
Originally Posted by berettafan
You have multiple factors to consider-
1- inherited step up basis goes away if you add your name to deed. At least for your portion of the property.
2- what sleazy attorneys euphemistically call 'medicaid planning' doesn't appear to be considered here.
You NEED to understand the implications of BOTH before putting your name on anything beyond a checking and savings account.
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The first ... doesn't matter one iota. "I" want total control, and do not want a spouse (of an heir) to have ANY say-so ... whatsoever ... none.
All vested parties do "get it" ....and why
.
They are almost 90, dad has been on borrowed time for a while.
Most docs, etc. were done decades ago ... attys (outside of this board) have been no help ... not worth even a beer
.
Thanks!