Founding Attorney
As parents age and have a harder time handling their affairs, you might consider taking on a more involved role to assist them. One common way to help in this capacity in New York is by transferring your parent’s property to your name.
But if you have a parent who is incapacitated by dementia, it can be challenging to transfer a property deed over to your name. A skilled New York attorney can provide significant advice and guidance throughout the process. Take a closer look at how transferring an incapacitated parent’s property deed works.
Why You May Need the Legal Title to a Parent’s Home
Proper estate planning and preparation can substantially assist you and your parent in the event they become disabled or incapacitated and unable to handle things on their own. Still, parents don’t always make these plans for the future, which can leave loved ones confused and unsure of what to do.
Fortunately, in New York, it is possible to transfer a property deed to your name, even if your parent is suffering from an incapacitating condition, such as dementia.
Transferring the Title for a Parent’s Property
Transferring title for your parent’s property depends on the specifics of the situation, but generally, you will want to follow certain key steps.
Get Your Parent’s Medical Condition Evaluated
If your parent is suffering from an incapacity, it’s crucial to start by getting a medical evaluation. A healthcare professional can thoroughly assess your parent’s mental state to decide whether they have the legal competency to sign documents.
Determining whether your parent is competent is key, as it can substantially help you figure out your next steps. A neurologist or psychiatrist can provide essential insight and provide a formal diagnosis.
Establish a Durable Power of Attorney or Conservatorship
If your parent is mentally incapacitated, you can either establish a power of attorney or a conservatorship, depending on the severity of the incapacity and level of competency.
A durable power of attorney (DPOA) allows a person to choose another individual — their agent — to handle their financial, medical, and legal affairs. Durable powers of attorney differ from ordinary powers of attorney, which automatically end when a person becomes incapacitated. A durable power of attorney remains in effect even with incapacity.
On the other hand, a conservatorship involves the court, as the court appoints an individual to manage a person’s affairs when they become incapacitated and unable to do so themselves. The big difference between DPOAs and conservatorships is the level of competency a person must have.
For a power of attorney, your parent must have the requisite competency to understand what they are signing. This may be possible during early-stage dementia. But if your parent’s dementia is advanced, petitioning the court for a conservatorship may be the better option.
Execute the Transfer of the Property Deed
Once you have a power of attorney or conservatorship, you can transfer a property deed to your name. A qualified attorney can assist you with the documentation.
After obtaining title to your parent’s home, you typically have the right to do what you wish with the property, including selling it.
Turn to an Experienced Elder Planning Attorney Today
Acquiring the title to your parent’s home can be difficult and overwhelming, especially if you don’t have an established power of attorney to handle their affairs. A seasoned attorney at Merlino & Gonzalez can provide much-needed direction and representation during this process.Our firm has two offices conveniently located in Staten Island, NY, and East Brunswick, NJ. Contact us today to schedule a consultation.