living trust or will?

What is the name of your state (only U.S. law)? Florida

My 82 year old mother refinanced my brothers house soley in her name two years ago because he needed to take money from the equity and was unable to do it on his own due to credit reasons. She does not reside in this house and she does not make payments on it. We are trying to find out what would be the best avenue to take in order for this house to be left soley to him and that he is responsible for any monies due on it at the time of her passing. She currently has a will that was drawn up in the state of NY but she now resides in FL and that will states that everything she owns gets split equally between the three siblings. Please note that the majority of her money is in a innuity. The only monies she has over and above the above mentioned house is approx. $20,000. What I am trying to find out is if a new will can just be drawn up here in FL stating that the house goes to my brother and the rest of the money gets split up equally or do we need to have a living trust done in order to accomplish this?What is the name of your state (only U.S. law)?

How is the property deeded? Is it in your brother's name or your mother's?
How much is owed on the property?
Does the estate have enough to pay the loan once she passes?
A will won't pass on the obligation to your brother, only the asset; the obligation will rest solely on the estate.

She needs to consult an estate planning attorney to protect the balance of her assets.

doesn't sound promising

The mortgage is in my mother's name and the title/deed is in my mothers and my brothers wifes name. There is approx $200000 owed on the house right now and no the estate does not have enough money to pay off the loan. she only has about $20000 in accounts other then her annuity.

brystal2 said:

The mortgage is in my mother's name and the title/deed is in my mothers and my brothers wifes name.

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Can your brother's wife refinance the mortgage in her name only?

This really needs some estate planning in Florida.

Hire a lawyer there.

One can leave an asset to an heir together with the obligation (loan) on it.

But it is absolutely necessary that grandma uses a lawyer.