Legal Question in Wills and Trusts in New York
Will states that the house my mother owns must be sold after my wife and I retire. There is nothing in the will that says we get the house just that we can live there until we retire. We live with my mother. The proceeds are to go to a charity. As my mom is not expected to live another year and my wife and I are not going to retire for at least 15 yrs, how do the taxes and insurance get paid. Does the estate pay it or do we since we are living there but without our names on the house deed. My mother will not tell us who is being left the house, just that we can live there.
1 Answer from Attorneys
Your question cannot be easily answered, as Mom is still alive and Will contents are unknown. Plus, you do not say who is paying these bills now. Traditionally, a person given a life estate in a house is treated like a tenant, so he either pays rent or the bills for maintaining the house. Usually this is covered in the document creating the life estate. More facts need to be known for a complete answer. These are things to discuss with Mom so you can plan for this. This is a response to an Internet question and the reply is not intended to be legal advice or as creatiung an attorney-client relationship.