Cleveland, OH asked in Elder Law for Ohio

Q: In Ohio. My mom is 95. My sister and I are guardians for her. Can she sell her house and lay aside so much of money?

It would be in case she would need healthcare on a facility. Can she split the rest of money between her four daughter's?

Related Topics:
1 Lawyer Answer
Inna Fershteyn
Inna Fershteyn
Answered
  • Elder Law Lawyer
  • Brooklyn, NY

A: Wow it's a tough one! Your mom is 95 it's amazing may she live to be 120!

As for the house- best thing is to wait for the house to pass to you after her death because of Step Up basis. I would actually put a house into Irrevocable trust and leave your mom a life estate.

You should definitely consult with estate attorney regarding this matter and you should prepare a living will and a POA for your mom ASAP.

Sincerely,

Inna Fershteyn

Law Office of Inna Fershteyn and Associates, P.C.

1517 Voorhies Ave, Suite 400

Brooklyn, NY 11235

tel: 718-333-2394

fax: 718-701-8859

www.BrooklynTrustandWill.com

4 users found this answer helpful

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.