Reply to Complicated Issue: Best Way to Blend this Unique Family????

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[quote=Anonymous]I think the fairest answer is that, since you plan to give your house to your son eventually, is to do something that allows him to give the house to his children eventually, which means your name should not go on the title. The easiest way to let you stay in the house after he dies but still have the house go to his children is for him to put the house into a trust that gives you a lifetime interest in the house so you could live there until you die if you like, and then gives the house to the children. You can talk to an estate planning attorney about the specifics of how to set this up. For the finances, given you both plan to keep your residences to pass to your children separately, it sounds like it makes sense for you to keep the bulk of your finances separate and pay your own home expenses (mortgage, insurance, taxes, maintenance) from our own money. Then create a joint account that you both contribute to fairly (you two have to decide what constitutes fairly) to pay joint expenses (utilities at the home you're living in, groceries, travel, etc.).[/quote]

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