Reply to Pros and Cons of Putting House in Trust

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]DH and I will be buying a home soon but I will be putting down the downpayment and paying the mortgage for the foreseeable future as DH cannot afford to contribute.  He has two children from a previous marriage will need to pay child support for at least 10 more years.  We also have two children together.  I would like this house to go to our children together when we die.  Spoke to a lawyer who suggested that I put the house only in my name or put it in a trust.  What are the pros and cons of putting it in a trust?  He explained that when I want to refinance, I'd need to pay to take it out of the trust temporarily and put back in.

Before people bash me for not wanting to also provide for my stepchildren, I am fine dividing our joint accounts and any future assets equally among all children, but since this home will be purchased using funds ($200k) I had before we were married, and I will be paying for the mortgage, I would like it to go to our children together.[/quote]

I can see the arguments now...

"this is MY house...."[/quote]

pp makes a good point. If she earns $5,000 and he earns $5,000 and the monthly spend is $10,000 for the family, it's sort of absurd to say she and she alone is paying the mortgage because she couldn't have the rest of the lifestyle without his half of the income. That's some pretty artificial accounting right there.[/quote]

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