Mom selling home and home put in trust

[chatterweb]

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

My Mom is tired of climbing stairs, and she lives alone with early Alzheimer's...

She just has her Estate Planning completed. I am the person named to be her DPOA for medical and also for finances.

Her Elder Law Attorney gave me instructions for filing the paperwork with the County for her property deed to be put in trust. It states it can take 2 weeks to 6 months to be implemented.

The trust is the kind she can cancel anytime.

My question is, will adding her soon for sale house to the trust slow down the sale/escrow/closing if the property is in transit of being placed in her trust?

If she happens to get any proceeds from the sale, I will make sure it goes into her MMA, which I am also POA for.

I worry about my Mom living alone, she has agreed to move in with us, it may be temporary, until she can find a new place, like an AL or similar. What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

 

[tecate]

You might edit your question in bold; I think I understand what you are asking, but I am not sure. If a sale is imminent, my guess is the trust transfer deed will be noticed by the title company. FYI, your mother would want to place the proceeds in an account titled to the trustee of the new trust. If you do what you want, you may spoil the probate avoiding feature of the trust.

 

[chatterweb]

You might edit your question in bold; I think I understand what you are asking, but I am not sure. If a sale is imminent, my guess is the trust transfer deed will be noticed by the title company. FYI, your mother would want to place the proceeds in an account titled to the trustee of the new trust. If you do what you want, you may spoil the probate avoiding feature of the trust.

OK, so she should file the deed to transfer to her trust ASAP, she also has to visit the bank for those accounts to be added.

I have been very busy with her and her health (Dr visits)

Her house will be going for sale in late January. I am hoping she will be moved in with me before then. I worry about her well being.

 

[FlyingRon]

Is the trust set up now?

Filing the deed shouldn't take six weeks. You just walk take it down to the courthouse and do it.

If you are actively trying to sell the house and your mother is still "with it" enough to do so, you should get a SPECIFIC power of attorney (in addition to the general and medical ones you already have) for the sale of the house. It will make things easier.

Hopefully you also have the advance medical directives in order. Believe me, we got them done on my Alzheimers afflicted mother in law just in time.

The names on the accounts should be changed to the trust or the assets moved to accounts in the trust name ASAP.