Legal Question in Wills and Trusts in Florida
Life Estate and bill required to pay
My husband passed away Nov. 1, 20001. In the will he left his house (that he had before we married) to his two daughters. I have been told by one of the daughters (the representative) that I have what is called a life estate and I can live in the house as long as I want until I sign it over to them. But until I sign it over the them, I am responsible for the property tax, home owners insurance, and the upkeep/repairs to the house. Is this true?
Also if I just leave the house and move back to my home state am I still responsible and can the children move into the house without my permission?
Thank-you for your help.
2 Answers from Attorneys
Re: Life Estate and bill required to pay
Yes, under FL law you have a life estate in the homestead and perhaps other property as well. If you wish to abandon the life estate, you may, but the preferable course may be to obtain an appraisal of the life estate, sell it to the estate for distribution to the other beneficiaries.
Re: Life Estate and bill required to pay
They gave you correct information. If you want to move you would waive your right to reside in that home and of course you would then not be responsible for the taxes etc. However, you should inform them that you want to bought out and the attorney handling the estate will calculate your percentage share. You should have that calculation confirmed before you sign anything.
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