My father is getting on in years and had discussed signing his home and investments over to myself and my husband and then being able to draw off of them as needed. We live in Colorado and he was told that the laws have changed and that he can no longer do this. Is that correct?
Answer
There are a number of issues that your father must be aware of prior to doing any of these transfers. He should be meeting with an attorney who specializes in estate planning matters for senior citizens. He should not take any actions based on anything you or he hears on the internet other than finding a qualified specialist.
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