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[quote=Anonymous]As other people have mentioned, do not have her gift the house to the son.  Horrible idea from a tax perspective.

Keep the house, rent it out.  It will be a pain in the butt, but it will provide her with a steady income.  Dementia care is VERY expensive.  And what they don't tell you is that it gets even more expensive as time goes on and the dementia gets worse.

Also, primary homes are not included when determining eligibility for financial help for care.  But everything else is.  Say the house is worth 500K.  If she sells it for 500K and then has 500K in investments, those investments count towards determining whether she is eligible for $ from the government for her care (she would not be).  If she keeps the house, only the monthly rent (less expenses) would be used to determine if she was eligible.  If she has enough money in savings/investments, this doesn't really matter.  But as I said before, dementia care is expensive, she could go through that other money fast. [/quote]

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