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Updated over 1 year ago,
Looking for some savy advice about moving a house to a trust!
Long story short my mother has worked as a hair dresser for 36 yrs and its time to retire. Social security is a joke but we have one card to play. Based in NY her primary residence of 40 years has appreciated exponentially. We want her to move the house to a trust, sell it, and then put that money in a some kind of high yield savings account. Our hopes is that combined with the interest payments and social security she can live comfortably with my bother in his in-law suit. Has anyone done something similar? or have any savy advice that I can look into? thanks BP fam!