Tenancy in Common and Other Ways to Co-Own Property
Dec 9, 2022 · What Are Tenants in Common? In property law, tenancy in common allows an owner the greatest flexibility to transfer the property as they wish. Each co-tenant in a tenancy in common has …
Tenancy by Entirety: Special Ownership for Married Couples
Some states give married couples another option to own property jointly and avoid probate but also have protection from creditors. This is known as tenancy by entirety. What Is Tenancy by Entirety? …
What Is the Difference Between a Will and a Trust? - ElderLawAnswers
Apr 16, 2024 · The grantor can fund a trust with the same types of assets that are typically named in a will. However, the assets are retitled in the name of the trust, making them the property of the trust — …
Medicaid Estate Recovery and Medicaid Payback Rules
Dec 13, 2012 · Federal law requires each state to attempt to recover long-term care benefits from Medicaid recipient’s estates after their death. This is known as Medicaid estate recovery. If a …
Is It Better to Use Joint Ownership or a Trust to Pass Down a Home?
Feb 22, 2017 · A disadvantage of joint tenancy is that creditors can attach the tenant's property to satisfy a debt. So, for example, if a co-tenant defaults on debts, his or her creditors can sue in a "partition …
9 Types of Dementia - ElderLawAnswers
The term “dementia” is thrown around a lot in discussions of elderly individuals, but what exactly does it mean? Dementia is a general term for memory loss that is severe enough to interfere with daily life. …
Home Ownership When Parents and Adult Children Live Together
3 days ago · If you live in a home with more than one adult generation, you may face several legal and financial challenges with home ownership.
Lady Bird Deeds: A Different Kind of Life Estate - ElderLawAnswers
Jul 6, 2023 · Life estates are ways for you to transfer property to another party while retaining the right to live there until you pass away, or some other event occurs. As the grantor of the life estate deed, you …
5 Rights That a Trust Beneficiary Has - ElderLawAnswers
Jan 12, 2024 · As a trust beneficiary, you may feel you're at the mercy of the trustee. However, depending on the type of trust, beneficiaries may have rights to ensure the trust is properly managed. …
Transferring Assets to Qualify for Medicaid - ElderLawAnswers
Transferring assets to qualify for Medicaid can disqualify you from benefits for a certain period. Before making any transfers, you need to be aware of the consequences. Congress has established a …