[Monique]

I’m looking forward to hearing expert advice about holding title on property and insurance coverage.

My mom is 87 and wants to leave me a property worth about $200K. She has a second unit on the property that caretakers live in (woman 80, son 50).

They help her with chores around the house and are there in case she falls. She still does her own grocery shopping and drives.

My mom would like the 80 year old woman to be able to stay on the property until she dies. The 80 year old would pay property taxes, utilities, etc.

One big challenge to overcome is the property is uninsurable (her HOI was cancelled), high fire danger area of CA, so as far as I know, I can’t get an umbrella liability policy.

I’m fine with my mother’s wishes for the caretakers to stay, but I don’t want the liability.

So here are my questions:

Is there a way to hold title so I don’t have liability? In other words, transfers to me on death of caretaker?

Any ideas on how to structure this so I don’t have liability?

I’d love to inherit something from my mom, but it feels a bit messy and I’d love to figure out a way to make it simple.

Thanks for sharing your expertise and/or similar experience, not so interested in judgement or opinions.

[Heidi]

Get a ISO rating for the property try these companies for insurance: USAA, Allstate or farmers if that doesn’t work ask other neighbors who they have insurance with.

This is a issue also where my mom lives

[Tristan]

Look in to a QPRT. I believe the caretaker would need to be added to the title to make it work, but not certain.

Basically allows beneficiary 1 to remain on property until a specific time (death) and then property transfers without probate to the remainder beneficiary (you)

[Ian]

I think this is a textbook example of when a trust would be used.

[John]

There are no ‘uninsurable’ properties in CA because the state mandated FAIR plan must give you insurance if you can’t get it in the private marketplace.

You may need a private supplemental plan from an out-of-state non-admitted company for coverages above the basic coverages.

[Robert]

Get with a good elder-law attorney; or a good estates and trusts attorney.

They will not be cheap; the good ones never are – but they are worth their weight in gold.

[Patrick]

Look into a life estate, for your mom’s caretaker it should solve your problem.

Contact a local real estate attorney very common.

[Author]

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