legal question concerning estate planning.?
I have a question concerning estate planning.I am a fifty year old woman sharing a home with my eighty four year old mother in the state of pa. Since both our names are on the deed I would like to know if the home could be taken by a retirement home should my mother take ill, or if I could lose the home in the event of her death, or would the home automatically become mine. I would also like to know what the procedure is for obtaining power of attorney in the state of Pa.
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Generally, they can not take the home from you, but they may be able to exert a claim on her share of the home. They'd have to wait for this until you die or you sell the home.
But you should find an attorney in PA to advise you on this. It would be worth a couple of hundred dollars to go over all your questions like this and get professional advice. Don't rely on anything you get here on Y!A in this regard.
POA's are usually not difficult to do, but notarization and/or witnessing requirements vary by state. Again, an attorney can help you with this in one short visit. Your mother will need to still be competent, though.
I'm not an attorney, but I'm pretty sure that if both your names are on the Deed, then no one can "take" or do anything to the home without your consent. And, in the event of the death of your mother, and in the absence of a will, the other half would be the next of kin's anyway.
You REALLY need a medicaid planning attorney. This is an extrememely complex area of law. I'm not going to begin to comment on the rules about what happens if she goes in a nursing home.
There are different kinds of joint ownership. Depending on what kind you have, if you are "Tenants in Common" you get half the house when she dies (and the rest goes to whoever she mentions in her will). If it are true joint tenants, you get the whole house when she dies.
You want to consult an attorney. But, if the home is in both names, it may not joint tenancy or tenancy in common. Either way, one party will have a right to the property if the other party is incapacitated.
Assuming which you're interior the U.S., while a guy or woman dies without a will, the valuables is settled in accordance to state probate regulation. you are going to be able to desire to work out an assets lawyer for advice on a thank you to proceed. Verbal agreements between you and your sister do no longer supersede probate regulation.