Earning My Ears
- May 17, 2016
I'm confused about "state assistance" and "if he ends up on medicare". He is currently on medicare, and is not receiving state assistance. Could you please explain? I'm absorbing as much of the advice I can, and hopefully helping out others in similar situations! Thanks for your input!This is actually a pretty complicated tax question. Its complicated even more if you just "add" them and don't transfer to them. It's not like you can just "add" your kid onto your 1M house and act like the gift occurs when you want it to. DVC is real estate.
I would never jointly own anything with a person I'm not married to, outside the structure of something like an LLC or trust. If I were buying blue card, I would absolutely go the LLC/trust route. The ease of those routes will vary depending on your home state and your estate plan.
As for OP, I'd be talking to a lawyer. This is even more complicated with all the complicated issues of the POA and the state assistance, which does have a lookback, if he ends up on Medicare. This is not where I would be taking internet legal advice.