[WSBAPT] Mom's Shacking Up

[Marcus Fry]

Definitely Cohab agreement. I would think about living trust with home transferred into it with limitation on ability to amend or revoke trust without authorization by trust protector.



Sent from my Samsung Galaxy smartphone.


-------- Original message --------
From: Amy Goertz <amyjgoertz at icloud.com>
Date:02/27/2018 2:46 PM (GMT-08:00)
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Cc:
Subject: [WSBAPT] Mom's Shacking Up

Fellow listers,

I have a potential client who came in with her three adult daughters to discuss concerns regarding Mom's boyfriend moving into the family home. Mom is 80 and boyfriend has prior bankruptcy in his past. They had previously been advised to tell the boyfriend to keep a post office box and not receive his mail at the house, so as to prevent him from establishing himself as a resident or tenant at the house (that’s a new one on me). Although the mom is quite sharp now, the thought is there that she may become less so as time goes on and may become vulnerable to his influence. The main goal of the family is to prevent the boyfriend from claiming any interest in the home in the event something happens to mom, and in particular having some means of getting him out of the house without a long-term eviction process if she dies or goes to the hospital. Mom says by no means are they talking about marriage.

We discussed a Transfer on Death Deed, but since it is revocable it would leave an open door to him talking the mom into signing something to give him the house. We also discussed a Cohabitation Agreement, which they believe he will be agreeable to signing. We also talked about having her give the daughters the house now, which would require a Gift Tax Return and would also cause them to lose the senior discount on the property taxes.

Any thoughts on the best approach here?


Amy J. Goertz, J.D.
Goertz & Lambrecht PLLC
amyjgoertz at icloud.com<mailto:amyjgoertz at icloud.com>

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Goertz & Lambrecht PLLC
www.goertzlambrecht.com<http://www.goertzlambrecht.com/>

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