Legal Question in Wills and Trusts in Texas
Lifetime Estate
My parents wrote identical wills shortly after my father was diagnosed with terminal cancer. During the process few questions were asked about the will. My dad inherited some acreage that has been in our family since the original patents; they also own acreage they purchased and where their home is. The will was written that all personal property goes to the surviving spouse and all real estate owned goes to the surviving spouse with a lifetime estate and the remainder to me, their only surviving child. My mom is being advised to sell the ranch (the inherited property). I understand that she has the right to the use and enjoyment of the property during her lifetime but does that include the right to sell the property?
Thank you.
2 Answers from Attorneys
Re: Lifetime Estate
If yuor parents deceased in Texas, and the properties are in Texas, then Texas law applies, and any action in the court would need to be in Texas. However, no proper opinion can be given without a review of the wills and the deeds themselves. You are not able to give all the facts without such a review. Consult with an attorney immediately.
Best regards,
James D. Jenkins
Re: Lifetime Estate
You are correct if that is the way the will is written. She would need your consent to sell the ranch. However, if you don't agree, she could petition the court to sell the property. The property would be appraised, a value would be given to the life estate, and a value would be given to the remainder. When the property sells, you would each receive your respective shares. Keep in mind that this will cost several thousand in appraisal, court costs, and legal fees, so it would be best for you and Mom to come to an agreement as to the dispostion of the property and proceeds.
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