A 2015 AARP survey found nearly 90% of people age 65 plan or desire to live in and age in place at home as long as possible. But staying there is not always easy or feasible as we age.
Reverse mortgages can be a useful tool. However, like most loans, a reverse mortgage is not a perfect product and should not be entered into until all of the factors, risks, etc. have been examined and explained to the borrower.
Today, it is possible to re-title the ownership of many assets by adding a beneficiary. When the asset is real property, for example your house, this occurs through the use of a life estate deed.
