[WSBAPT] (no subject)

[Philip N. Jones]

I recommend that you not try to create a life estate; too much uncertainty.  Instead, each of the two wills should create a trust and all of the terms of the occupancy should be spelled out in detail.  Who pays the utilities, insurance, maintenance, taxes, repairs, improvements?  When does the trust end?  What happens if the surviving spouse moves out?
Phil Jones

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 – office
(503) 853-1482 – cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Lynn Clare
Sent: Monday, April 25, 2022 10:55 AM
To: WSBA Probate & Trust listserve <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] (no subject)

Unmarried PC's own a home together as TIC with a 60/40 split of interest. They want their adult children from previous relationships to inherit their estates including their share of the house.

BUT they want the surviving partner to be allowed to live in the house for as long or as little as needed while still ensuring that both sets of heirs inherit when the second partner passes.

What's the best mechanism for doing this?

Lynn Clare
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