Tuesday, January 3, 2012

What is the best way to handle this problem?

I am Power of Attorney on my Mother's property. My Father's name is still on the Deed papers along with my Mother's name. My Mother has dementia and cannot manage her affairs. I have a caregiver taking care of her. Her stage of the illness is now a little deeper than 8 years ago when it was first diagnosed. I have been advised by friends to either change the deed to my name or sell the property and buy a new property and place it in my name. I am confused as need to rent a place for my Mother to live in with the caregiver, although I will have a new place in my name. The lease on an apt will be in my name if I do that and place my Mother in a rental apt while I buy a new property. Is it best to keep the old property although the maintenance and proeprty tax is goin up and a special essment has beenplaced on the condo or sell it and buy a new place and have it on my name and avoid probate ???? inhertiance tax will also play a factor if I leave it as it is. What is the best thing ??

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