Legal Question in Wills and Trusts in Florida
We are two unmarried low-income adults over the age of 60 years old. We live in Florida. We paid the full amount for our mobile/modular home at the time of purchase (August 20, 2009) . We paid about $22,000 for that home. We have no mortgage payment. We pay a monthly lot rent to a " 55+ mobile home court", we do not own the land the home is sitting on. The Certificate of Title/State of Florida has BOTH of our names on it.
My question is . . How do we protect the other person's ownership of the house? Through a last will and testament? A trust to avoid probate? What type of trust? Or do we need both a last will and testament plus a trust? The house is the only real asset that we both own. We both have credit card debt. Neither of our children are interested in this 1977 model mobile/modular home plus they live in the mid-Atlantic area.
1 Answer from Attorneys
I'm not sure I follow who the "other person" is? It sounds like you need a simply will directing where you'd like the modular home to go. From the facts you are giving it doesn't appear a trust would be necessary. You may also want to consider placing whomever you want the home to go to as a joint tenant with rights of survivorship. Due to your age and unforeseen circumstances your best bet is to see an attorney and have a basic package made up (Power of attorney, designation of healthcare; will) if you can afford it. Hope this helps.