I'm seeking a way to avoid potentially having to sell my house which is in joint names with my wife.
We are both way past retirement age and I'm hearing so many people say that they have had to sell their property to pay for nursing home care.
I'm concerned about one of us getting dementia then having to be admitted to a home thus triggering a property sale to pay for it.
Our intention is for the house to be left for our son on our eventual demise so would simply adding his name to the proprtty title prevent a forced sale.
We could alternatively just transfer the whole property right now but of course that is potentially troublesome if, for instance my son dies before we do, or is divorced (not that it's impending or anything --- but who knows what the future holds).
Would such an addition to property title prevent a forced sale to pay for nusring home care?
We are both way past retirement age and I'm hearing so many people say that they have had to sell their property to pay for nursing home care.
I'm concerned about one of us getting dementia then having to be admitted to a home thus triggering a property sale to pay for it.
Our intention is for the house to be left for our son on our eventual demise so would simply adding his name to the proprtty title prevent a forced sale.
We could alternatively just transfer the whole property right now but of course that is potentially troublesome if, for instance my son dies before we do, or is divorced (not that it's impending or anything --- but who knows what the future holds).
Would such an addition to property title prevent a forced sale to pay for nusring home care?
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