IS it a good idea for my mother to gift her home to me.?
Will i have to pay taxes now or when i decide to sell. Right now i plan to rent it.
Answers (1)
FIRST ANSWER
You will want to think about the Medicaid laws if something happens to your mother and she has to go into a nursing home-depending on what happens they can look back so many years and put a claim against the home. I would suggest talking to a real estate lawyer to see what would be the best thing to do.
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Answered Tue Mar 3 2009, 14:55 by Rainey Delotell in Silver Grove
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