Reply to Pros and Cons of Putting House in Trust

Forum Index » Money and Finances

Reply to "Pros and Cons of Putting House in Trust"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]OP here - we have only been married 4 years so we have very young children.

The reality is that my stepchildren have two parents that are to provide for them and my kids have two parents to provide for them.  Stepkids will also receive support and inheritance from their mother and mother's side of the family.

My other option could have been to put my $200k in a fund for our kids and start from scratch saving for a house together but purchasing a home with the funds is a better investment.  And if I were to die first then of course I would want my husband to have the house and funds but the reality is we have two young kids that will need support and would not get it from anyone else, unlike stepkids.  As I mentioned before, other assets could and should be divided equally.[/quote]

[b]
I really hope someone answers your question from a financial standpoint, OP.[/b]

I'm a single mom and my XH is a bit of a nightmare----I'm talking calls to the police and a CPS investigation, not he talks with his mouth full. I have also been given the advice to put the house in a Trust. The children, like yours, are very young and I NEED to make sure that they'll have something when I'm gone. As I've been counseled, it's not a sure thing to simply leave it in your Will to the children (and of course you wouldn't want to put them on the deed or anything like that). I've wondered about refinancing ahead of time and locking it all in and just forgetting about it.

Please, finance super stars, respond to OP's question so that we can all benefit from understanding the tax implications and possible obstacles in the future.
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics