elsie born
Junior Member
What is the name of your state? Massachusetts
Mother 85 and slipping fast. Probably not good to sign her share of the family property over to us three kids now as there is a 5-year look-back policy in this state.
How does this work, then? The property in question is a non-winterized bungalow in Suffolk County New York, and originally belonged to my grandparents, then their 3 kids (my father and two aunts), and eventually the apportioning has continued as that generation passed, so that my mother has my deceased father's portion, and 3 cousins have the other portions. (total appraised value of something in the $250,000 range)
How do we keep it in the family ? Do we now have to BUY her portion from her. She is living with my sister for the past year and has no primary residence of her own. We don't want to put her in danger of not being eligible for medicaid should it come to that and she goes through everything else she has.
Any advice would be greatly appreciated.
Mother 85 and slipping fast. Probably not good to sign her share of the family property over to us three kids now as there is a 5-year look-back policy in this state.
How does this work, then? The property in question is a non-winterized bungalow in Suffolk County New York, and originally belonged to my grandparents, then their 3 kids (my father and two aunts), and eventually the apportioning has continued as that generation passed, so that my mother has my deceased father's portion, and 3 cousins have the other portions. (total appraised value of something in the $250,000 range)
How do we keep it in the family ? Do we now have to BUY her portion from her. She is living with my sister for the past year and has no primary residence of her own. We don't want to put her in danger of not being eligible for medicaid should it come to that and she goes through everything else she has.
Any advice would be greatly appreciated.