I’ll wait till I’m about dead, get a government backed reverse mortgage on my house, give the money to the kids and when I die, the government can repossess a house from a bank they backed the mortgage on.
No, what you should do is set up a trust for all your assets right now that will go into effect the moment you die. You will die penniless but the trust will disburse your assets to your kids or whoever.
“I’ll wait till I’m about dead, get a government backed reverse mortgage on my house, give the money to the kids and when I die, the government can repossess a house from a bank they backed the mortgage on.”
Gifts less than 5 years before you incur the expenses are considered fraudulent transfers and can be recovered from your kids.