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Reply to "How will this work (financing for nursing home) ...."
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[quote=Anonymous][quote=Anonymous]She doesn't have to sell the house but they may put a lien on the house. The 5 year old back may be an issue with the cash.[/quote] Wrong. If the house is a homestead (which is an almost certainty in Florida due to tax advantages) then the following applies: "Homestead status is determined at the death of the decedent. See Wilson v. Fla. Nat’l Bank & Trust Co., 64 So. 2d 309, 313 (Fla. 1953). “[T]he benefits of homestead protections vest in a qualified beneficiary at the moment of a testator’s death…” Cutler v. Cutler, 994 So. 2d 341, 345 (Fla. 3d DCA 2008). Therefore, if beneficiaries sell the homestead property after the death of the decedent, because the beneficiaries’ homestead rights attached prior to the sale, [b]“the proceeds of that sale are protected from the claims of the decedent’s creditors.” [/b]White v. Theodore Parker, P.A. (in Re Estate of Hamel), 821 So. 2d 1276, 1280 (Fla. 2d DCA 2002) (property rights, including homestead, passing by virtue of the death of a person vest at the time of death)." [/quote]
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