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wuvsicecream Asked January 2013

If a married couple owns a home together can they put the home in a living trust ?

I am asking this question for a friend that has a sick husband and adult children. The wife has been given advice on this question. She was told you can't do this because the couple owns the home jointly. If this the law is there any other option possible? The husband has been sick for many years.

EXPERT Carol Bradley Bursack, CDSGF Jan 2013
This woman really needs to see an attorney. There are too many variances. Also, the attorney can give her alternatives if there are any. An estate attorney or an elder law attorney should be able to help her.
Thanks for being a good friend.
Carol

EXPERT Ralph Robbins Jan 2013
There is no reason why a home jointly titled cannot be retitled in the name of a living trust unless: a) it is not permitted by state law or, b) one of the joint holders does not "have capacity" (in other words, doesn't know what they are doing) and there is no power of attorney in place to allow someone to perform contractual functions for that person.
A more relevant question may be: Why do they want to re-title the property thusly?

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wuvsicecream Jan 2013
Thanks Carol

wuvsicecream Jan 2013
Thanks Ralph Well I thought it is the best way to preserve the home in a future need ....the wife not being able to pay for in home care or long term care.

wuvsicecream Jan 2013
Ralph I know the couple has a POA in order for both parties. I think that they were not given the correct info. by an attorney. Question ....this type of trust also saves the children from probate issues in the future, does it not?

wuvsicecream Jan 2013
Thank You again Ralph... your answers are mostly where I learned this info in the past.

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