Vacation home send to children


Elderly healthy male (85), divorced remarried (first mother deceased), proprietor in DC (he and stream mother co-owners of residence there), has a vacation residence (from initial family) in DE. The male and his initial mother became corner owners of a DE residence on a divorce; a male insincere solitary tenure when initial mother died. There is no income from a DE house. The debt is paid off. The male wants to send tenure of a DE residence to a children of his initial marriage. His other assets, including his share of a DC house, will go to his second wife. There are no children from a second marriage. The DE residence is now in a revocable trust, with a children as trustees.

The male is deliberation a send of tenure of a DE residence now, anticipating that he will stay healthy by any Medicaid stating period. But he’s not certain about a best process of transfer, or a possibilities for a children to “cure” a present if he should need long-term caring during a lookback period. The options are:

– undisguised gift;

– life estate;

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