Q: My spouse and I purchased a studio apartment in a New York City co-op for our adult son, who has special needs and is able to live independently with the support of an agency. We recently asked the co-op board to allow us to transfer the property to an irrevocable trust, so that when we die he will still have a place to live. The board denied our request. Now we are in a quandary. Our son cannot inherit property directly or he will no longer be able to receive the government benefits that support him. How do we manage this situation?
A: Parents can leave a co-op apartment to their children in their will or in a trust — but that doesn’t mean their heirs will necessarily end up with the right to own or live in that apartment.
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