Minnesota Estate Planning and Probate

my parents have a life estate on the house they ar...

2009-11-09T16:03:19.885-08:00

my parents have a life estate on the house they are currently living in and they are contemplating moving to assisted living. The life estate was placed on the house via quit claim deed in 2000. i was told by a planner they cant get in to assisted living and receive benefits as long as they still have this life estate. I think this person is referring to the fact that the life estate has value and they need to spend that so called value before they receive benefits under elderly waiver. This was the first I heard of this and its become a major barrier. Your insights are appreciated.

Life estates are a gift. Even though you retain t...

2009-10-09T07:10:20.205-07:00

Life estates are a gift. Even though you retain the right to live in the property for your life, you've given the property away. Recently, Minnesota passed legislation that allows termination on death deeds, which can be revoked. TODDs can prevent this type of issues. You may want to speak with a licensed attorney in your area to review whether a valid life estate was created and what rights your mother has.

Good luck!

Can a life estate be reversed? Mother granted a l...

2009-10-02T20:27:43.522-07:00

Can a life estate be reversed? Mother granted a life estate to 3 siblings who are now fighting over the home. One sibling and fiance live in home with mom. They pay all of mom's expenses and those of the home. They live in MN can mom do anything to reverse this mess?

You should bring your deed to a licensed attorney....

2009-09-28T08:07:54.143-07:00

You should bring your deed to a licensed attorney. It sounds as it may be held as tenants-in-common with the other couple. If so, you may run a greater risk that their issues could impact the cabin. Even if it's owned as joint tenants by both couples, you could run the risk that a medical assitance lien could attach to the property. One solution could be placing the property in a so-called cabin trust. You should speak with a licensed attorney who can review your situation and suggest ways to limit such issues.

Good luck!

We are not sure if we are joint tenants for the la...

2009-09-23T18:29:14.529-07:00

We are not sure if we are joint tenants for the lake cottage with my brother-in-law and sister-in-law or are we just with each other-meaning myself and my husband and them with each other? We own the cottage with my brother-in-law and sister-in-law. The deed dated 1999 conveys and quitclaims an 'undivided one-half interest as joint tenants to myself and my husband' and the other 1/2 to my brother-in-law and sister-in-law. What could happen to the property if they file for bankruptcy? If my brother-in-law dies (morbid thought) would the cottage heirs be their children or a future husband or her relatives or would it pass on to us? ST

Its the same in the Uk. Debt can not be inherited....

2009-09-16T08:33:43.201-07:00

Its the same in the Uk. Debt can not be inherited.

Generally, a lien cannot be put on a life estate t...

2009-09-10T12:32:15.069-07:00

Generally, a lien cannot be put on a life estate that was created prior to 2003, but the trust and the specific terms of that trust may complicate things. You should speak with an attorney in your area about the lien, who can look at the terms of the trust and the specific circumstances in your case and determine if and how the lien can be removed. Good luck!

I am confused about the liens that can be placed b...

2009-08-20T05:02:58.360-07:00

I am confused about the liens that can be placed by the state on Life Estate trusts - my mother set up one in 1992. She recently moved into Assisted Living and is on county waiver and receiving MA benefits. Her entire social security check goes to the assisted living home. Her home is being rented out to cover the expenses and taxe and association dues of her home. Her income including savings never run over $2500 per month.
Can the state put a lien against her property even if it has been held in trust prior to 2003?

In Minnesota, "joint tenancy" refers to "joint ten...

2009-08-19T08:45:58.266-07:00

In Minnesota, "joint tenancy" refers to "joint tenancy with the right of survivorship". If the document transfering property,usually a deed, does not expressly state that it is owned "as joint tenants". They will own it as tenants in common under Minnesota Statute 500.19. Other states can and do differ.

As far as a medical lien, the general rule is that a medical lien will attach to property owned by the individual while receiving assistance or owned during the look-back period. If the state has put a lien on property that was transferred before the look-back period, you should contact a licensed attorney who can review your particular circumstances and determine whether the lien is valid and how to clear up the lien if it is invalid.

Good luck!

What about Joint Tenancy in Common with right of S...

2009-07-31T07:34:37.389-07:00

What about Joint Tenancy in Common with right of Survivorship; how does that differ?
Can the state put a lien on your property if the transfer was made before the "look-back" period for Medicaid?