Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#46
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Does your husband have children? Might he re-marriage? That is a slippery slope. Went through this once and it was a mess. I would give him 120 days to move if you were to pass before him. Sorry for being negative but sh$$ happens in situations just like yours.
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#47
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#48
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Inheritances, particularly when 'step-relatives' are involved, are notorious for bringing out the greed in people. It should be up to the deceased parent to decide how he/she wants their surviving spouse to be taken care of, not any potential inheritors (re: children) trying to maximize their portion of their late parents estate. Establish a trust and don't depend on just a will.
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#49
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Creating a revocable trust and putting your assets into it will solve your problem and save your heir(s) the grief of dealing with FL probate, which can take 2 years or more before your estate is settled. You can make your daughter a co-trustee with you during your life and the sustaining trustee upon your death. You can stipulate in the trust that your husband has use of your assets, but not control over them, upon your death leaving the administration of your estate in the hands of your daughter. You should get advice and assistance from a qualified law firm specializing in Elder Law Planning.
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#50
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You can do a life estate. Your attorney can set it up.
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#51
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Each situation is different. Obviously legal instruments such as trusts and wills can be used. A home can also be re-deeded to one's children subject to a surviving spouse's life estate. The relationships among and characters of the various parties, their financial and marital states and other factors come into play. It is best to use an estate attorney with experience in this type of conundrum as it can be nettlesome.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#52
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He can easily change his will at any time after the OP passes.
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Closed Thread |
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