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Reply to "Leaving kids house upon death and spouse is alive"
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[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] They are generation skipping. If the wife inherits the house, THEN leaves it to the kids, they'll not have the house exemption the 2nd time, only the first. It's an estate planning move.[/quote]
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