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  1. #1
    Join Date
    Jul 2007
    Posts
    11

    Default Life Estate vs Remaindermen

    In 2003 my parents had a trust drawn up and deeded their home to me, with me (only child) as remainderment, them as Life Tenants. Two years ago both parents went into a nursing home. They could not provide a safe enviroment for themselves at home. I asked them if i should move into their home to maintain it? they agreed, being i had my own home i could not afford both homes so i sold mine. Shortly after, my father wanted me to get out of the house because in his mind he wants to go back there and live. i was able to prevent him from getting back into the house as i know if he got into the house he would not leave and i can't take care of him. i received a letter from the nursing home to vacate the house in 30 days and that the trust will be revoked. His doctor says no way can he live by himself but his social worker keeps enabling him with info on what to do and how to do it. I have spent about $20,000 in repairs and taxes over the past 2 years on my parents home and we (my family) have no place to move or money to move with. also if he revokes the trust and gets the house back the results will be devastating, as he could get into the house and end up dying there. Should i take the 30 day notice to leave serious? and what options do i have? what if he revokes the trust? do i have any rights? talking with my parents is not an option at this point as the nursing home has drivin a wedge between me and my parents.......HELP

  2. #2

    Default Re: Life Estate Vs Remainderment Help...help...help

    I fail to see how the nursing home has any right or standing to tell you to move or that the trust will be revoked. However, the best short term solution would seem to be taking your father out of the nursing home, bring him home and hire some help to take care of him.

    I strongly suggest taking the trust to an elder care attorney and let him explain it to you.

  3. #3
    Join Date
    Jul 2007
    Posts
    11

    Default Re: Life Estate Vs Remainderment

    Allowing him to get into his home is not an option under any circumstances, he has guns here and has shot holes in the house before because of night terrors, there is absolutely nobody to check up on him on a daily basis, I warned the nursing home many times verbaly and in writing NOT to get involved in my parents personal decisions, but they do it anyway and say they are within their legal rights to do so. the 30 day notice to get out is on nursing home letterhead but signed by my father. There is only one elder care lawyer locally and he represented my parents in drawing up the trust and my power of attorney for my parents and will not advise me. i have less than 10 days for the 30 day time limit, im wondering if i can stop or reverse the revoking of the trust based on the amount of time they have been out of the house and lack of funds they have to maintain it, plus im affraid if it goes back to my parents name medicaid may take it as they are on madicaid.

  4. #4

    Default Re: Life Estate Vs Remainderment

    They have a life estate in the house and the exclusive right to occupy the house. Depending on state law, Medicaid may also have the ability to place a lien on the house even if it is in a trust.

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Life Estate Vs Remainderment

    If the problem with his going home is unsecured guns, consider removing them from the home or investing in a gun safe.

  6. #6
    Join Date
    Jul 2007
    Posts
    11

    Default Re: Life Estate vs Remaindermen

    A lawyer said to me in passing the other day that if the deed was transfered and recorded in my name that i own the house and would have to sign off for my parents to void the trust, does anyone know if this is true?......FYI im in new york.

  7. #7

    Default Re: Life Estate vs Remaindermen

    If the deed is in your name, then it is not in the trust. The only way for real estate to be in a trust is for the deed to be in the name of the trust. If that is the case, revoking the trust will have no effect on the house.

  8. #8
    Join Date
    Jul 2007
    Posts
    11

    Default Re: Life Estate vs Remaindermen

    IWPAT....you have me more confused then when i started with your last comment. The Document i have says that my parents signed over the deed to me for the sum of $10..... then it goes on to give a complete description of the property, .....then a statement where my parents reserve the right to assign their life tenant statis to someone of their choosing, Then this document was filed in county clerk's office, what i want to know is: can the lawyer that drew this doc. up file to revoke it after two years at my fathers request?.......3 weeks ago i received a letter from the nursing home, (on their letter head) stating that i have 30 days to vacate the premises and that the trust will be revoked at that time and it was signed by my father at the bottom. should i take that letter very serious or are they blowing smoke?

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