Maggie's Reverse Mortgage Blog

Just Because You’re Old Doesn’t Mean People Can Tell You What To Do!

 

 

 Just Because You’re Old Doesn’t Mean People Can Tell You What To Do!

 

This article caught my attention. Son tried to evict 98 year old mother from home The son of a 98 year old woman tries to evict his own mother from her home  She had signed the home over to him years earlier.  And he’s not a compassionate person obviously.  But she doesn’t want to leave her home.  Most seniors I meet have an adamant desire to remain in their home until they ‘go out feet first’ as many say.  The first lesson we can learn is, don’t sign your house over to your children. Revocable Living Trusts are the best instrument to retain title and control and avoid costly probate. 

 

The elderly mother could have done a reverse mortgage to pay someone to care for her and the money from the reverse mortgage could have been used to modify her home and make is safe and comfortable for an elderly person.  Of course, not everyone has a son who would force his mother out of HER home.  But seniors should take control of their assets and have a full estate planning package done including power of attorney, health care directive or living will and the revocable living trust and record the property in the name of the trust. 

 

I have witnessed clients who had to get costly conservatorships because they did not complete a simple power of attorney document .  It’s also not a bad idea to have a capacity test done to make it very clear that you are not incapacitated at the time the power of attorney was executed to assure It will be acceptable at the time it is activated.

 

The woman stood her ground, went to court and was awarded the right to stay in her home.  Good for her!  I see far too many people who do what their children say even if it is against their own wishes and desires.  Just because you are old doesn’t mean you can’t make decisions on how you live your life.  So make it clear in a legal document in advance and hopefully you’ll get what you wish for!

elderly woman gets to remain in home

 

Comment balloon 7 commentsMaggie O'Connell • February 18 2012 05:37PM
Just Because You’re Old Doesn’t Mean People Can Tell You What To Do!
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