If you inherit a home, can you lose it due to civil judgments in state of ohio?

Question

Father in law wants to will his home to us. We are going through some very difficult financial ruin and credit card judgments at this time.

Our bank our home was through recently charged-off the debt and our credit is ruined. We are both disabled with a young child and we have lost almost everything. We sold much of what we had to try to not lose our home. My father in law only wants to help us try to rebuild our lives and secure a home to raise our daughter. Would it be best to have him put the home in our daughters name in the event of his death? Whatever we would do to fix or maintain the home would be to one day leave it to her in the first place. Currently we are suffering with our health and need to move in with my father in law to be closer to our doctors and nearer to family. The devastation is wearing us both down, and we are ridden with stress and dispare having lost our home recently. What should we do?

Answer 1

there well be a inheritor's tax that you well have to pay plus if any of his other children come forth they could sue for right on the home  

Answer 2

This is a very serious concern.

Its way to serious to be seeking help on line.

You and the father in law need to spend a little money and get good legal advice.  I understand your not flash with cash but getting it right today can save the house later on.

As other have pointed out, complications can come from many an unexpected places.

Answer 3

The equity in your home is protected up to $100,000 from any creditors.  It is called a Homestead Law or  Homestead Exemption.  But i am worried that you debts existed before the house was deeded to you and that could complicate matters.   You can call the State of Ohio and get a clear answer.  Or look up the Homestead Law online or get it at the nearest library.  You don't need  a lawyer.  It is written in simple English.

I think you can do this.

Answer 4

You're asking thousands of strangers for a legal opinion that affects your family's entire life??!?!?!?

Don't settle for an answer that seems right or is logical. The law is often illogical. Consult an attorney.