QUESTION
My youngest son is on the deed to my home and cars, which have no debt on them. When I die will he have to sell his home to pay my debts?
Asked on Aug 12th, 2019 on Estate Planning - Kansas
More details to this question:
My youngest son has been on the deed to our home since we purchased it. He lives here, is disabled and lives on SSD. My husband passed nearly 2 years ago and I am worried about what will happen when I pass. I have very little debt since home and cars are paid for and also in his name. I have a personal loan and one credit card. Will he have to sell his property to pay these debts?
2 ANSWERS
2 Awards
Also note that gifts of $200 or more in the 60 months before you apply for Medicaid will disqualify you for a time -- but not if they are made to a disabled adult child.
Answered on Aug 13th, 2019 at 5:17 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.
2 Awards
If your son is "on the deed" and on the title and the deed and title are "joint with right of survivorship," he will inherit the house and the car outside of probate. If not, and if you use Medicaid (for example, in a nursing home), Medicaid may not seek recovery for its loan to you from a disabled child. But other creditors can seek recovery from your interest in the home and the car.
Answered on Aug 13th, 2019 at 5:16 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.