With the changes in medical assistance and increase in the number of persons entering a nursing home, the usage of life estate deeds has become quite popular. There are important factors to consider when changing or adding names to your deed. Creating a life estate deed gives the owner(s) of the property the opportunity to add someone to their deed while avoiding capital gains taxes. In viewing this type of deed, there are two options: the life estate deed with powers and the life estate deed without powers.
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