Legal Question in Wills and Trusts in Kentucky
Rescinding a life estate
Is it possible to rescind a life estate? My mother prepared a life estate 2 years ago giving her house to my 2 brothers, one sister and myself. My mother now wants to sale the house and move into an assisted living apartment but one of my brothers won't sign the papers. Can she change her life estate?
1 Answer from Attorneys
Re: Rescinding a life estate
If the life estate was created in a will, then all she has to do is revoke the will by making a new one or tearing the current one up. If it was by deed that has been delivered and recorded, then she cannot "un-make" it. If it was by a deed that she still has in her possession but has not been delivered and recorded, then she can simply tear that up. She should have this reviewed by her local counsel. There are some options with repsect to forcing a sale and letting the stubborn have his share in money but it can become complicated. This situation calls for "one on one" conferences with local counsel. Call someone and make an appointment.