My question involves estate planning in the state of: South Carolina
Regarding a Life Estate, my elderly mother owns a home outright and would like to remove her name from the deed for Estate Planning purposes. She plans on living in the property for the duration.
Which would be a better plan?
Her being the "grantor" of the Life Estate, or Quit Claim the property to me and I in turn set up a Life Estate and become the "grantor" of a Life Estate.
One of the benefits in doing this is she still will receive her Homestead Credit for property taxes.