Uncle wants to give me his home for his care

[Mary58]

My uncle wants to give me his home and all his contents in his home if I will care for him until he dies. He has two step children who doesnt want his home and doesnt want to take care of him and they agree with this. If I have him sign over his deed and title to me, should i get his stepchildren to also sign an agreement about the contents in his home?? Does his will have to be changed about the home and the contents too? and should I get a lawyer besides his lawyer who will be doing all the paper work? What about taxes on the home once he dies, should the home be as a gift to me? He has alot of money in the bank, so should I also have him put down that he is solely responsible for any medical care for himself if the need arises?? thank-you for your help!

 

[Tracey]

Those are good questions & you're on the right track -- he should hire an estate planning attorney. A living trust might be a good idea. Spend $1-2k now and avoid lots of problems later!

------------------
This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.