Short-term access, long term strategies to fund assisted living and beyond -- where to start?

[lastlib]

6. My first thought is this:

When the land is sold, be prepared for some MASSIVE federal income taxes. (You also need to do some research on what the cost basis for that property will be--what did grandparents pay for it, what did they spend to enhance it (not counting routine repairs). If you don't have that, the IRS is likely going to charge taxes on the full sale amount, so you may be shelling out a third or more of the sale proceeds for taxable gains.

You also need to consult an attorney to determine precisely what are your responsibilities here, and look into using a trust structured to deal with this.

I'll give this a little more thought and give you some more ideas a little later.

eta: I wrote this before I read your post about your tax work, so I guess you know about that part. my bad.