Legal Question in Wills and Trusts in Florida
Right of Survivorship
My 88 year old mother currently has my 53 year old sister living with her as a companion. It is her desire that my sister be able to continue to live in her home after her death since my sister has nothing of her own to speak of and would probably be homeless without it. My mother realizes that because my sister has no real income that she would probably end up losing the home if it were left totally to her. She wants to leave it to me with the understanding that my sister be able to live there, which I have no problems with. However, I do have a problem with it being left under a ''Right of Survivorship'' which if I understand correctly would mean that though I would be taking care of the expenses to maintain the house (i.e. taxes, insurance, repairs, etc.), should the need arise I would not have the flexibility to do anything with the property as long as my sister is alive. How can we word this in my mother's will so that my sister will have a place to live, but I will have the flexibility I need as the true property owner?
2 Answers from Attorneys
Re: Right of Survivorship
There are several ways to resolve this, but it is too complicated to discuss here. You should contact a local attorney. If you are in the Atlanta area, please free to call me.
Re: Right of Survivorship
This question is to complicated to discuss in a short email. If in Florida feel free to call my office.