Dangers of the Due on Transfer Clause (Part 2)
           Last week I was telling you about George’s problem. He had transferred his home to a trust to protect it but then received a letter from the bank referring to something called the due on transfer clause.            A transfer of title without permission could trigger the bank’s entitlement to
Dangers of the Due on Transfer Clause
           To follow up on the same topic of the past two weeks, transferring the home, recently we received a call from George regarding the transfer of his home to a trust. He received a letter from the bank holding his mortgage, stating something about the due on transfer clause.           Â
Thinking about transferring your home to your children? (Part 2)
           Last week I told you about Jamie’s mistake. Mom and Dad transferred their home to Jamie 7 years ago to protect it from Medicaid’s spend down requirements. While the transfer was outside of Medicaid’s 5 year look back, now that Mom was planning to move in with Jamie the
Thinking About Transferring Your Home to Your Children?
           Jamie called because her dad was in need of Medicaid. He was now in a nursing home and Mom was living at home. They had about $120,000 of countable assets. I asked about the home and Jamie told me her parents had transferred it to her 7 years earlier.           Â