[jayerose]

I want to leave the house to my daughter but would like my husband, if I pass before him, to have the choice to stay in the house until he moves or passes away.

Yes, I can google it but just wanted to post first...it is not a will I would state this, is it?

thank you all.

[JMintzer]

Yes, you can put that in your will...

[dewilson58]

Originally Posted by JMintzer

Yes, you can put that in your will...

agree

[Debfrommaine]

Originally Posted by jayerose

I want to leave the house to my daughter but would like my husband, if I pass before him, to have the choice to stay in the house until he moves or passes away.

Yes, I can google it but just wanted to post first...it is not a will I would state this, is it?

thank you all.

My dad did this same thing via a trust. He also stated she can use his money for repairs, property taxes, etc. related to the home. Good for her bad for the kids!

[retiredguy123]

Originally Posted by jayerose

I want to leave the house to my daughter but would like my husband, if I pass before him, to have the choice to stay in the house until he moves or passes away.

Yes, I can google it but just wanted to post first...it is not a will I would state this, is it?

thank you all.

It's called a life estate. You can set it up in the deed or in your will. It gives your husband the right to live in the house for his lifetime, and then your daughter inherits the house.

[Stu from NYC]

Make sure you have that put in by a qualified attorney

[OrangeBlossomBaby]

Originally Posted by retiredguy123

It's called a life estate. You can set it up in the deed or in your will. It gives your husband the right to live in the house for his lifetime, and then your daughter inherits the house.

If he doesn't want to live in that house for the rest of his life...how is that handled?

[retiredguy123]

Originally Posted by OrangeBlossomBaby

If he doesn't want to live in that house for the rest of his life...how is that handled?

Typically, the life estate tenant must maintain the property and pay taxes and other expenses while he is alive, but he doesn't need to live in the property. Although, he can forfeit the life tenancy and allow the property to be sold, but the "remainderman" (the daughter) would receive the proceeds from the sale, if they agree to do that. If the life estate is established in a will, other modifications can be specified.

[Northwoods]

Originally Posted by OrangeBlossomBaby

If he doesn't want to live in that house for the rest of his life...how is that handled?

My will (a trust) states that if my spouse sells the house, my estate/ trust gets half of the sale of the house.

[retiredguy123]

Originally Posted by Northwoods

My will (a trust) states that if my spouse sells the house, my estate/ trust gets half of the sale of the house.

If the spouse can sell the house, that would not be a typical life estate with a remainderman. It would be a completely different beneficiary arrangement.

[Art cov]

I had a friend who past. He set up that his wife could stay for life unless she remarried and his son of course gets the house when she passes. She takes care of the regular bills and son does upkeep. Enough was left to wife and son for neither to worry. She also had another home from previous husband’s death which she sold. 2 husbands past in a few years. Nobody has yet wanted to marry the 65 year old woman.

[JudyLife]

Yes you can put it in your Will. It’s called having a ‘Life Interest’ in the house. My husband & I have the same as we are both 2nd marriages with children/grandkids.

[J1ceasar]

As many have pointed out above hopefully your daughter and husband have a good relationship. Also it would not be bad if your daughter has money already. Have you discussed this with your husband? He may decide he does not want to live there because of the memories then what will he do? There are many ways to arrange trusts to providing incomes for people. Best advice is to spend a few dollars and talk to a lawyer before you decide what you want to do.

[GOLFER54]

Set up a TRUST....
ANDREW CURTIS
352-315-0333
3261
US Hwy 441
Unit D2
Fruitland Park FL 34731

[mlmarr1]

Set up a Trust.. I did covers all bases..