jmhickey3507
Junior Member
What is the name of your state (only U.S. law)? New York
We currently are living in the basement apt. of my mother-in-law's house. We are looking to moved nearby but would like for her to remain in the house with some kind of care. She's 78 years old, legally blind and suffers from neuropathy in her legs, so cannot walk without assistance. But she is still very active in her church and would like to keep her connected with the community. Our financial advisor recommended putting her assets into a life estate with my husband and his brother as beneficiaries. We want to make sure she still has control over her assets (including decisions related to the house) if we do this. Will she still be in control of her assets (including decisions related to her home) if she does this? And how will this protect her assets in case she has to go into a home somewhere down the line?
We currently are living in the basement apt. of my mother-in-law's house. We are looking to moved nearby but would like for her to remain in the house with some kind of care. She's 78 years old, legally blind and suffers from neuropathy in her legs, so cannot walk without assistance. But she is still very active in her church and would like to keep her connected with the community. Our financial advisor recommended putting her assets into a life estate with my husband and his brother as beneficiaries. We want to make sure she still has control over her assets (including decisions related to the house) if we do this. Will she still be in control of her assets (including decisions related to her home) if she does this? And how will this protect her assets in case she has to go into a home somewhere down the line?