Legal Question in Wills and Trusts in Massachusetts

Re: Life Estate, property sale, setting up trust

This sounds like a rather complicated family situation.

You (or your Father if he is alive) should probably consult with a trusts and estates attorney to guarentee that his wishes and goals are accomplished.

The kind of transactions you are proposing involve serious tax and other consequences for both your stepmother and your Father's children.

Please feel free to contact me should you require further assistance.

Re: Life Estate, property sale, setting up trust

This is a more complicated matter than you may think. Depending upon how the property is held, your rights and those of your step-mother may be not so simple.

Generally, a life estate in real estate is apportioined based on the age of the person who is holding the life estate. Moreover, if sold, if your step mother is to receive medicaid to pay for the home, they will require the proceeds of the sale for payment of assisted living fees.

You have a number of options depending upon what the real facts are. Also, it will depend on the desire of your step-mother and her rights under the terms of the Will or Trust holding the the property.

I suggest you contact an attorney to review all the documents and advise you correctly.

Please feel free to contact me if you have any additional questions.

Re: Life Estate, property sale, setting up trust

You should definitely discuss this complicated situation with an experienced professional. It sounds as though stepmom may want to override dad's wishes by setting up a trust for her children. On the other hand, she may have full authority to treat the funds as her own. The various documents must be reviewed carefully in order to fully answer your concerns.

Good luck. Please let me know if I can assist you in any way.