What is the name of your state (only U.S. law)? Florida...Hi, I have a question that I hope can be answered by someone here without too much hassle on *your* part.
My mother and I, along with my four children, have lived together for many years now. We were previously living in my home, which I lost to foreclosure recently after separating from my husband (not yet divorced) and also losing my job in the construction industry. We are now living in a home that she recently purchased and is solely in her name (but I pay half the bills on). She is 77 and in excellent health and there are no medical issues prompting this, but she would like to put my name on the title so that if something does happen to her, we won't have to worry about probate.
I've done a little bit of searching (which is hard with my limited understanding of this) and have told her that I don't think adding me to the title is a great idea. First of all, I'm still married, but don't at all expect my husband to try anything (he's moved to New Zealand), but the recent foreclosure also has me concerned. The foreclosure is complete and the home has reverted back to the bank, but I haven't gotten any notices from them about the next step there. I also have 3 siblings if that matters.
I've looked up Living Wills and explained to her that I thought that might be a better option, but she says they are more expensive than adding me to the title and feels that a living will isn't as binding or efficient.
So bottom line, could someone please tell me if I should let her add me or if a living will is a better idea. Also, what is the average cost and hassle of creating a living will? Do we need a lawyer to do one? Any tips or opinions would be greatly appreciated.What is the name of your state (only U.S. law)?
My mother and I, along with my four children, have lived together for many years now. We were previously living in my home, which I lost to foreclosure recently after separating from my husband (not yet divorced) and also losing my job in the construction industry. We are now living in a home that she recently purchased and is solely in her name (but I pay half the bills on). She is 77 and in excellent health and there are no medical issues prompting this, but she would like to put my name on the title so that if something does happen to her, we won't have to worry about probate.
I've done a little bit of searching (which is hard with my limited understanding of this) and have told her that I don't think adding me to the title is a great idea. First of all, I'm still married, but don't at all expect my husband to try anything (he's moved to New Zealand), but the recent foreclosure also has me concerned. The foreclosure is complete and the home has reverted back to the bank, but I haven't gotten any notices from them about the next step there. I also have 3 siblings if that matters.
I've looked up Living Wills and explained to her that I thought that might be a better option, but she says they are more expensive than adding me to the title and feels that a living will isn't as binding or efficient.
So bottom line, could someone please tell me if I should let her add me or if a living will is a better idea. Also, what is the average cost and hassle of creating a living will? Do we need a lawyer to do one? Any tips or opinions would be greatly appreciated.What is the name of your state (only U.S. law)?