Posted on: 22nd Jun, 2013 07:34 am
i am contemplating using my poa (granted by my mother) to transfer a business (property) in kitsap county, wa. to myself using a quit deed. this property is cited in her will to be given to me, there will be no challenges to this action, and she wants me to take ownership of it now. i plan on including in the quit deed a life estate so that the control of the business still remains with her (i.e. the lease agreement with tenant, $$$$ from tenant, etc. ). with this action, her overall federal life gifting amount will not be exceeded for her estate (both personal/property)- all other properties have already been legally distributed. she is gravely ill, under hospice care and unable to do this legal paperwork herself. she is not under medicaid. appreciate any insight you might give me to proposed action.
Hi CJJS,
You and your mother can contact a real estate attorney and complete the process. He will also be able to let you know whether or not this property transfer may impact her Hospice care in any way.
Thanks
You and your mother can contact a real estate attorney and complete the process. He will also be able to let you know whether or not this property transfer may impact her Hospice care in any way.
Thanks