I have some questions around what happens to someone's house after they die or move to assisted living. Thanks?

Answers:0   |   LastUpdateAt:2012-07-13 00:51:02  

Question
Jugrnot
Asked at 2012-07-13 00:51:02
If someone dies or has to move to assisted living as an older person , what happens to the house? What is the process? Of course, I realize this may depend on if grown children are involved, and what confidence could say.

I also wonder if those of you who answer this question can also address the difference between a will and a trust. What happens when there is no trust in place? Also, what is the job of an executor ? What is the difference between a power and an executor ?

Finally , it is true if there is a sale of a parent who has died that the adult child is not allowed to attend? Also, if the person has moved to assisted living , is money from the sale of the house, or can come from life insurance ? What if they have no funds?

I am not in this position, but I've seen friends who are in this position, and this has made me wonder about these issues.

Thanks in advance for your help with my questions.
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