Stevesdawg
Junior Member
What is the name of your state (only U.S. law)? North Carolina. My father has dementia and can no longer live alone. When my mother died in 2006, we updated Dad's will and got a living will and POA in my name first, then my brother. (Only sibling, lives several thousand miles away, but he's in total agreement with everything -- no squabbles.) Dad and I live 5 hrs. apart but for the past year, have been together 24/7 dividing our time between his place and mine. (We live in different states.)
We are in the process of buying a house in North Carolina which is to be both of our primary residence. We are very blessed to be in a position where both of our current houses are paid off, and will NOT be needing a mortage on the new house, either. We will be selling both of our current houses, but realize we will probably be stuck with them for at least some period of time. (Their sale will NOT be necessary to purchase the new place.) The house in North Carolina will be approximately the same value of my dad's current house, which is about double the value of my current house.
I have been and will continue to be my dad's primary caretaker. He is physically in excellent health, and as of yet his dementia issues are primarily daily living skills related, not behavioral issues. My question is when we buy the North Carolina property, should we buy it in BOTH of our names or just in MY name?? The majority of the money to purchase it will be from my father. It is everyone's (my father, my brother, and my) intention that I will continue to live in the North Carolina house for the remainder of my life after my father passes on. I don't want to do something now out of ignorance that's going to cause headaches in the future, if I can avoid it.
Thanks,
Stevesdawg
We are in the process of buying a house in North Carolina which is to be both of our primary residence. We are very blessed to be in a position where both of our current houses are paid off, and will NOT be needing a mortage on the new house, either. We will be selling both of our current houses, but realize we will probably be stuck with them for at least some period of time. (Their sale will NOT be necessary to purchase the new place.) The house in North Carolina will be approximately the same value of my dad's current house, which is about double the value of my current house.
I have been and will continue to be my dad's primary caretaker. He is physically in excellent health, and as of yet his dementia issues are primarily daily living skills related, not behavioral issues. My question is when we buy the North Carolina property, should we buy it in BOTH of our names or just in MY name?? The majority of the money to purchase it will be from my father. It is everyone's (my father, my brother, and my) intention that I will continue to live in the North Carolina house for the remainder of my life after my father passes on. I don't want to do something now out of ignorance that's going to cause headaches in the future, if I can avoid it.
Thanks,
Stevesdawg