What To Do?
A trustee for a trust says that his beneficiary is going into state supervised care. He has a house free and clear and if he owns it on entry into the care center the state will take it over. He wants to sell it but wants to retain use in case the old man wants to return "home".
I am trying to think of a way that would be good for me and him/them. THe old fellow will probably not live another year....
Any thoughts?
[addsig]
Have him sell you the property at a discount in exchange for a life estate.
This would work I think providing that the discount were cheap enough to make paying it off over several years if he suddenly regains his health becomes an issue
[addsig]