Recent content by TNCPUPZlazy

Hello. Yes. We are joint tenants. He wants to continue to live there, but may grow tired of maintaining such a large house and lot. My brother is currently unemployed, thus the medicaid and the financial difficulties. The house will need some repairs to be saleable and be more livable. In...

Hi. We strongly feel it should be his house. He stayed and helped pay off the second mortgage and took care of both parents (there) before they died. My mother payed my sister's mortgage for years, so she bought her a house. I don't want the complications of owning a house in 2 different...

Thank you for your reply. I hadn't considered the gift tax or the affect it might have on his medicaid, so I've been doing some research. If I understand you (and what I read) correctly, my sister and I wouldn't owe any taxes as the gift combined with others, would not exceed 12.9 million o...

What is the name of your state? Montana. Hello. My 2 siblings and I inherited equal shares of a house. There is no mortgage on the house. My sister and I both want to give our portion of the house to our brother. We have each put some money in to repairs, etc., and would want to be...

What is the name of your state?GA My cousin has a question that might solve our problem. Please see here for background https://forum.freeadvice.com/threads/agent-error-creates-complicated-problem.657182/#post-3677354. If she were to set up one of these trusts and then claim the annuity into it...

If she had the money in her possession, he would try to get it. That would stress her out. I could go in to more detail, but that situation belongs in a different forum.

The main issue is medicaid. In the state she lives in, medicaid offers someone with her set of physical and psychological disabilities protections that private insurance does not. She has already encountered them. I found out about special needs trusts and recommended she start one so she can...

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I checked with the state. If they get the money mentioning a beneficiary, they will hold it for the rest of her life, then distribute it according to her will. I then pressed the brokerage firm (threatened to file complaints with the boards of all the states involved) and they grudgingly...

Thanks, Don. My cousin cannot claim the money. The way it ended up was the worst possible outcome for everyone involved. Had it been the other way around, we could have given her portion to her in a way she could use it. They told me (and it's in the contract) that if it's not claimed by the...

Yes. After reading some of the other questions, most of the problems would have been prevented if the insured had listed "my estate". The other lesson is review them every few years.

Thank you. No, we weren't listed. There was only 1 short line on the contract to list a primary (not even a percentage box), and below it (not even double spaced) only one short line to enter a contingent. The names and titles didn't even fit. She submitted my uncle's death certificate and...

What is the name of your state?Montana I have a complicated problem with my mother’s annuity. An error made by an agent has left her children/estate unable to claim their portion of the money. My mother always referred to it as my grandmother’s annuity and later the “trust” or “contract”, so I...