Assets considered for payment of nursing home care
Last December, I loaned my mother money to purchase a co-op share in Florida. We put the share in her name. My mother has recently taken sick and will need nursing home care. At the time of the loan, we did a 7% note from her payable to me and had it notorized at a bank. According to the agreement, the loan is payable at the time the co-op share is sold. Do I need to record a lien somewhere to protect my interest? My concern, is that since the share is entirely in her name, that it will be considered as part of her estate and all of the proceeds will be required to be used for her nursing home care. She otherwise has very limited assets.