re: "Estate" Planning: 75 yr old father & his mortgage

How does he pay his bills? Just social security?

With the house the way it is, I honestly wouldn't worry about it as an 'investment'. As long as he can afford to fix major issues like the roof, AC, etc. Id let him just take care of it. When it comes time to sell, deal with it then. I don't think dealing with it now as an 'inherited' investment is going to make financial sense. I understand why you think that now.

Besides social security and the house, what other assets does he have? The insurance is completely up to you, could be a wash. But you need to make sure that he has enough money for a funeral and selling his estate comes out to a profit not a loss.