Washington Township, Gloucester County, NJ Estate Planning Law Firms & Lawyers

There is no single "best" way.  A solution fo ryou would involve looking at all of your assets, long term care insuance, your family history and many other factors.  As a Certified Elder Law Attorney my goal is to make sure you have sufficient assets under your own control to pay for the care you need. Long term care doesn't "take" your assets - you have to pay for the care that you receive, and if your assets run out and you still need care, then the care wil be provided by Medicaid.  We can minimize taxation and/or take maximum advantage of tax credits by using credit shelter wills, and various types of trusts.

The Power of Attorney is no longer valid and really doesn't bear any weight.  I have had this issue before.  I am of the opinion that there is no "majority rule" when it comes to the Executors because all of them need to sign off on things.  For example, if you were selling property, and one executor did not agree and would not sign the deed, then I do not believe that clear title would be passed.  If there is a disagreement among the three, then proper thing to do is to go to court and either seek to have the one executor removed, or if they just refuse to sign, get a court order indicating that the two remaining executors are authorized to sign on behalf of all three. 

This is a complex question that cannot be answered here.  There are many issues at play.  You have estate tax on the entire estate, and possibly some kind of transfer tax.  The disposition of this property has to be done as part of an over all estate plan, not just piecemeal for one property.