Legal Question in Wills and Trusts in Oregon
I am the sole owner of my condo, which is paid off. My son's mother is a bully and he won't stand up to her. He lives with her and pays rent. My fear is that after I die, she'll convince him to sell my place and pay off the place her and her husband just bought on a 30 year mortgage.
What kind of steps can I take to prevent this? I would never rest in peace if this were to occur.
1 Answer from Attorneys
That's a great question. What you can do is make a Last Will and Testament which says that after your death, your executor sells your condo and puts the net proceeds into a trust, and then you can say what you want to happen with those trust proceeds over time. Maybe pay an income stream to your son, for example. And then payout a lump sum to your son, or anyone else of course, every 5 years, until there's no money left. That's just one of several ideas.
Good luck.
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