I have been deeded a house from my mom through a life estate. When my mom eventually passes away, how can I protect the house for the life time of my disabled brother who now and will always live in the house. He is on SSI for the rest of his life due to being severely bi-polar.
If I were to die unexpectedly, would it be good to put the house in a trust after my mom dies? Would a trust protect the house from being taken away by creditors? Would it allow my brother to stay in the house for the rest of his life.
My idea would be for him to be the benefiary of my life insurance so that if I pre-deceased him, the life insurance would go into the trust to maintain the house and take care of him?
Any ideas out there?