Reply to Leaving kids house upon death and spouse is alive

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Under what circumstances would you, if at all, agree to this? I know a couple who had a house, sold it, and bought a new one. The second house is in his name only but upon his death, the house goes to the kids with her having the right to live in it for as long as she wants to. He has not been married before and neither one have kids other than the three they share. When she told me she agreed to not owning the house after his death, I thought i would never agree to it. But maybe there's a circumstance where someone would agree. If so, can you please share? I didn't ask her because it's really none of my business.

have three children together. [/quote]

So the wife would have a life estate in the house. My mother set this up after my father died, so I owned her house but she had a life estate, meaning she could live there as long as she wanted and she would be responsible for all bills, taxes etc as long as she lived there.

She has a friend who was remarried to a man who had adult children, and he had reworked his will etc to reflect that my mom's friend had a life estate in the house. His kids were very, very unhappy with this and wanted her out so they could sell the house. She agreed to move out, but got a lawyer to draft a buyout based on value of the house, value of the life estate, etc. And they did it.

What is your specific concern, OP? That the wife won't own the house?
[/quote]

I guess I'm trying to figure out if she gains anything from taking that deal. Because I don't see it. They bought the second house as a married couple. Not sure of the first house. [/quote]

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