When my dad passes away can my house that I live in and make the payments on be taken since it is in his name?
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When my dad passes away can my house that I live in and make the payments on be taken since it is in his name?
We have a beneficiary deed signed for transfer of death but if he owes money to nursing home and hospitals. He is suffering from liver and renal failure and will pass before we ever have the ability to pay all of them.
Asked on September 29, 2011 under Estate Planning, Missouri
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You need to speak with an estate planning attorney in your area about the specific of the law as it applies here. But generally speaking, if the asset is in his name it is subject to attachment by creditors upon his death. even if you filed the deed I believe that it could be set aside should the creditors choose to do so. And if there is not enough money in his estate then you can rest assured that they will try and do so. Yo have not disclosed all of your financial issues here. You did though indicate that you had intended on paying off his debts I would speak with some one about that as a stop gap to a lien against the house. Good luck to you.
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