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My mother is 88 and in wonderful health; her will leaves everything to my brother and myself. Yesterday she mentioned that she was told that if she ever has to go into a nursing home she should transfer her home into our names. Some years ago I was told that a transfer like this should be done at least two years before she enters a facility because the state could take posession of it for payment of her care. She does have sizable savings; stocks; bonds, etc. that would take care of her in case of such a change. Is this something that should be addressed now, or can it wait until a decision such as her moving into an assisted living home be made?
State/Country of Question: California
It is better to do the transfer long before she enters the home. She can consider placing her assets in an irrevocable trust for your benefit to better distance herself and creditors from the property
Attorney
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