Poor, aging parent defaulting on loan
Location: Washington
My 73 year old mother lives in a fifth wheel that is falling apart. She still owes about 40k on it and we’d like her to default on it. I know they can’t touch her social security but she has a paltry retirement (70k) and a 1/3 stake in an equally falling apart beach house. Anything we can do to rid her (and ourselves) of this awful fifth wheel? It’s unsafe for her to live in. Can she ‘gift’ her assets to her children to avoid the loan holder from going after them?
Posted Jun 15, 2025, 2:59 AM UTC
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