Dad's deed

What is the name of your state (only U.S. law)? Oregon
I recently moved in with my elderly father to asist him. He thought it may behoove me to have my name added to the deed. He has a will, and I am the sole heir.(w/ power of attorney). What are the advantages / disadvantages of doing this? If it is deemed advantagous to do so, which form do I submit to the county? waranty deed-survivorship?
Thank You!
D. Doman.

"Added to the deed" isn't some sort of club membership or benficiary arrangement. It means that you are given HALF the property. If you do this you need to make sure it is deeded property with right of survivorship to you. Otherwise you still have to probate the half he retains in common tenancy.

It's disadvantageous to him, you are potentially screwing him out of medicaid eligibility and shutting down the option of a reverse mortgage if that becomes necessary to pay for his care. For your side, it means that you inherit his probably low basis on the part you would be gifted, greatly increasing the tax impact when you sell. If you inherit the property you will get the basis stepped up to the value at his death.

Power of attorney means nothing after he passes.

I'd consult an elder law / estate planning specialist before making adverse and irreversable decisions

Thanks for the advice! I appreciate it! It's amazing what staying a a Holiday Inn will do!!! Keep up the good work.
DD.