Is there any benefit to putting the house in my name now, before my mother passes?

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I'm moving back home into the house I grew up in with my mother to care for her. The house will be mine upon my mother's passing. Is there any benefit to putting the house in my name now? Or, just let it pass as it's set? We recently dealt with another family members passing. It made me realize, the more things I can do now, the better. Trying to deal with legal/property issues at the time of a death felt nearly unbearable. Thanks for reading.

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If you continue to care for your mother for the two years before she enters a nursing home, and such care can be documented to show that it prevented her from going into a nursing home, then the transfer to you will NOT be deemed a gift under Medicaid rules. To avoid getting her basis in the house upon a later sale, should she gift the house to you, the deed should reserve for her the right to live in it for her lifetime. Such reserved power will cause inclusion of the house in your mother's taxable estate, giving it a tax basis equal to its value on the date of her death.

As you can see, this stuff is complicated and the rules must be carefully followed. Show the above information to a good local elder lawyer, and they can advise and assist you with this!
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First..if it is your primary residence...then there will be no capital gains tax.

The issue I see is two fold. If you have it transferred now you will avoid probate court. But..if she needs Medicaid within 5 years...this transfer will prevent her from being eligible.
If you keep it in her name...and you are there to provide care for 2 or more years...then Medicaid will exempt the home for the caregiver child. You still do not inherit it if Medicaid is involved...they just put a lien in it so they get the proceeds when you sell or die.

Guess I think the central issue is...do you think she will need to go into a NH and get Medicaid to pay for it within the next 5 years from the time of the title transfer? Does your crystal ball work?
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Being HERE is the BEST advice I have EVER gotten while in this d*mn journey-boat!!
We learn from others who have experienced "it"!!
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I'm in the same boat as you and we need to consult an attorney. I think asking for help here isn't the greatest idea, since none of us is a practicing attorney and comments about your "crystal ball" are less than helpful. This is a journey, and the more info we have, the better. You have good and very valid questions but find the right (legal) ear to advise you. This sucks, yes. It is stressful, yes. It is not impossible if you-we both-act proactively. Laws vary from state to state...find an attorney who practices estate and/or elder law and meet with him or her. Most attorneys will give you a half hour of their time so you can see if you like them and can work with them. I am on the phone today arranging meetings, I'd strongly suggest you do this also. You don't want any surprises later, and neither do I. But please, don't get your advice here. This involves money and property, two things attorneys are best suited for and will guide you in. Protect yourself, your mother and your future. I wish you well and know you're not alone.
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How do you get along with your mom?

What are her impairments at this time that she needs caregiving?

Whatever you set up, do it through a Medicaid savvy, CERTIFIED eldercare attorney.

Whatever her impairments, make sure that you have respite built into the plan.
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As BB suggests, absolutely take your questions to an attorney specializing in Elder Law. Paying for good advice now can save to grief and loss down the road.
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You should let it pass after death because your mother can exclude $250,000. of capital gain on her tax return. If she gifts it to you before death, you will then have her cost basis when she received the house (either purchase or inheritance) and when you sell it you would have a larger capital gain on which to pay taxes. At death, your cost basis would be the market value at the date of death.
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There are a lot of good answers here but the best one is "consult a tax/eldercare attorney. Lots of implications that the lay person is not aware of.
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I heard Suze Orman give possibly the best answer to this, using her mother as the example for the exact same situation. Suze had her mother (1) create a Living Revocable Trust with the mother as owner and trustee, and upon mom's death, Suze is named the trustee; and (2) put the deed to the house in the name of the "[mother's name] Living Revocable Trust." This lets mom keep control while she is living; when she dies, the home passes to Suze immediately -- no probate court or delay or taxes! I hope I have the terms correct here, but it's close enough for you to get the right idea to take to a lawyer. Please look into this because I think Suze - a financial wiz - is right on the money on this one (so to speak).
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Prelude670, if you inherit the house after your Mom passes, and the time comes to sell the house [for whatever reason] the basis used to calculate the captain gain tax will be what the house is worth on the day you inherited the house.

If Mom changes the Deed and puts your name on the Deed, and the time comes to sell the house [again for whatever reason] the basis used to calculate the capital gain will be what the house was worth when your Mom had bought the house. Since you moved back in and the house is your primary residence, you are allowed $250k Federal deduction off of the calculation of the capital gains. Of course, when it comes to Federal laws, anything can change in a heartbeat :P
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