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Ellen, Lawyer, Consultant
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Im the executer,poa,trustee of my aunts will.She has a home

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I'm the executer,poa,trustee of my aunt's will.She has a home paid for worth 500k,which is in a trust.
She qualify"s for the senior homestead tax exemption.She lives in her home with a care giver,and her cash is running out.Would it be difficult to get a reverse mortgage on the home when it is in a trust?Would it be feasable?Would she lose her tax exemption?Would it mess things up with my side of the equation?
Submitted: 8 years ago.
Category: Legal
Expert:  Ellen replied 8 years ago.

It is feasible to obtain a reverse mortgage if the house is in a revocable trust. Typically her tax exemption would be unaffected. You would then have a house subject to a mortgage in the trust.
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