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Reply to "Unequal inheritance and sibling relationships"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]More details from the aggrieved stepchild: my dad left the house and all its contents to my stepmom--it is outside of the trust he created for the money we will get when my stepmom dies. So, she will likely leave that to my stepsister, which is also fine with me--it's her house and she can leave it to whomever she wants. My stepdad put his and my mom's house (which I grew up in starting at age six) into the trust and the half-siblings will inherit our family home, in addition to $$$. [/quote] I don't think a home belongs in a trust in most cases. Don't complicate the life of your spouse upon your death. If you have them, put other things in a trust for your kids. [/quote] He assumes he will die first and wants to make sure that my mom doesn't split the house 5 ways upon her death. Hence the trust. I had the first grandchild in the family and he and my mom were at the hospital when she was born. I am not some money grubbing johnny-come-lately stepchild. It has all been a lot to process. [/quote] What if your mom wants to sell the house and use the equity to move into a nice assisted living facility? Sounds like she's stuck in a world of his making. [/quote] She can't sell the house, but could likely afford to move to a nice place with her trust income. If she sold the house she would have to pay tax on the gain which has been a lot over 40 years. Half-siblings will get the house with stepped up basis, so best plan for tax purposes. [/quote]
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