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Selling a house
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Topic: Selling a house (Read 187 times)
ssals05
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Posts: 12
Selling a house
«
on:
January 04, 2012, 02:11:09 PM »
My dad's house is in his name, plus mine and my two sisters. I don't want to mess up his A&A by selling his house, but I would
sure like to sell it. His assisted living place said to put it into an irrevocable trust ($2000) cost, but I was also told since it was
in 4 people's names, then he would only be held accountable for 1/4 of the sales amount. I DO NOT want to mess up his benefit but
don't know what to do. Any experiences? Thanks.
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vetadmin
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Re: Selling a house
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Reply #1 on:
January 04, 2012, 04:04:19 PM »
He is only responsible for his 1/4.
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ssals05
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Re: Selling a house
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Reply #2 on:
January 04, 2012, 04:23:59 PM »
wonderful. that will save me the money of putting it in an irrevocable trust then. with his cash on hand and 1/4 of house, his assets will still be below $50,000 or so after it sells.
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