If I’m looking to purchase a home for my elderly parents, how can I protect it from being taken by a rest home or other institution?

My name will be co-signee on a FHA loan for the property?

Asked on June 27, 2012 under Real Estate Law, Utah


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

You are wise to think ahead and do a little estate planning but I would speak with some one who is qualified in your area to discuss it in more detail.  Placing property in an irrevocable trust can protect it from a nursing home and you should speak with some one about it.  Good luck. 

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.