[ericd]

Go see an attorney who specializes in Trusts and Estates. The advice you receive here can be suspect. For example, in 2006 11K was increased to 12k.

A trust can be set up to transfer ownership to you and/or your siblings. It has to exists for some number of years (5?) to get all the tax benefits.

Also, there is something about reducing your parents net worth below $???? for them to receive the maximum health benefits. If above $???? they have to pay some expenses out of pocket.

There is a lot more to this and the laws often change. So, do yourself a favor and find a good trust and estates attorney.