Q: Is it necessary to file a Durable POA with the court house. Mine doesn't begin unless I become incapacitated.
I have it signed, witnessed and notarized now. I just want to keep my business private. My problem is my house. I think my POA couldn't sell the home without it being filed...Is that correct? I think anything else doesn't require it to be filed in Texas. Also, if I am placed in a nursing home under Medicaid, what will happen with the home? Will Medicaid take it without the form filed or will it remain with my estate? If I go ahead and deed my home now, but keep a life estate on it, could I later sell it myself?
You have asked a multi-layered question. The POA you have signed that kicks-in upon your disability sounds like a potential problem. If you do want such a document, I would make it so that you require TWO separate Agents to sign for anything of value over $10,000.00 which would include your house.
You really should see an attorney about your estate planning. It is not very expensive, and you would be getting advice from a lawyer who is up-to-date with Estate Planning laws and rules.
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