Legal Question in Wills and Trusts in New Jersey

Sit down with a lawyer who does estate planning so you do what is best for you and your partner.

You need to plan this with the help of an attorney.

I can help you with this. Give me a call, make an appointment to come see me, and let's get moving on this for you. No charge for the telephone call and no charge for the first office visit.

Robert Davies, Esq. 201-820-3460

The Davies Law Firm, P.A.

45 Essex Street, Suite 3 West

Hackensack New Jersey 07601

Phone: 201-820-3459

Fax: 201-820-3461

Email: [email protected]

Website: AttorneyRobertDavies.com

Please keep in mind that my response is just a general comment on your question, and not legal advice. I have answered based upon the law of the State of New Jersey where I practice; the laws in other states may be very different, and may result in very different outcomes. Your question and any response does NOT create an attorney-client relationship between you and this law firm. The exact details of your situation and things that you have not mentioned in your question can completely change the response I gave. You can not rely upon what I have written as legal advice, because I do not have all of the information that I need to advise you, I only have the very small amount of information that you put into your question. To get legal advice that you can rely on and use, please contact me directly.

Your whole situation needs to be reviewed by an attorney before you do anything. Either call my office for a free first consultation or talk to the attorney who did your closing. If he does not do any estate planning you should call me.

I agree, but add the following: As equal tenants in common the survivor still owns 1/2 of the house and can continue to reside there. However, a major issue will arise as to how the costs of maintaining the house are to be allocated - 1/2 to each owner (current and future) or something else, as well as decisions on future sales, possible down-sizing and relacement during survivor's lifetime and sale after survivor passes. This is where you need an attorney both familiar with estate planning and with real estate. While both of you are alive, an agreement, binding upon all heirs, should be created which covers these issues - both survivor's rights and heirs' responsibilities. I can assist you in this undertaking. Your failure to resolve this now can lead to, as I have seen, extensive and very costly litigation. This is a response to an internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.