What is the b the best way to turn my house over to my 2 daughters in case I get sick and need a nursing home?

I am now 70 and my wife died last year. If I don’t need a nursing home, then I will be staying here until I die. They still live with me at this time.

Asked on November 28, 2018 under Estate Planning, New York

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

You can file a quitclaim deed which releases your entire right, title, and interest in the home to your daughters.  The quitclaim deed is signed in the presence of a notary.  The quitclaim deed becomes effective upon being recorded (filed  with the County Recorder's office).  
Don't wait until you are ill to do this because depending on the amount of time that occurs between transferring the property to your daughters, and going to a nursing home, the nursing home may still have a claim against the home for your bills.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.