Estate Law Questions? Ask an Estate Lawyer.
Hello: I am sorry you are having trouble with your Life Estate and getting expenses taken care of by your son in law. The answer to your question depends on what your life estate documentation says in regard to paying your bills from the income. I also need to know who the trustee of the life estate is in the documentation. If it is your daughter in the documentation which I would guess it is she has a fiduciary duty to you and your husband to pay according to the documentation. If she fails to do that she can be held personally accountable to do that in court but I would think you can avoid that with a phone call and/or letter explaining to her of her duty in this instance. Please check to see if you have the documentation and let me know what it says on these matters. All the best, David
I just realized you are in Canada. I am going to opt out to leave this open for a Canadian lawyer. There is likely law around life estates in Canada I will not know. Here is a link that explains life estates in Canada as well for your reference.
A different Professional here.
If an elderly couples expenses are being paid by the income provided by the rent profit generated by their life estate, can their son in law and their daughter who lives at the property which is the life estate, all of a sudden stop paying the elderly couples bills with the income from the rent roll which was being done all along?
Response 1: No. The elderly couple expenses must continue to be paid as usual from the proceeds of the life estate. Otherwise, the elderly couple can seek a Court Order to dissolve the life estate and take back their property.
The profits of the life estate are to be used to pay the expenses of the elderly couple. This must continue and the son in law is trying to force the parents to pay their own bills in another way wihtout using the proceeds generated from the rental income. is that right?
Response 2: No, it is not right. See my first response.
. is this enough evidence to merit a removal of the life estate?
Response: No. They must actually follow-through with their threat not to pay in order for the life estate owner to claim damages.
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Thank you for your cooperation.
Thank you for the information. It appears from your follow-up post that this matter needs to be taken to Court for resolution. The life estate owners need to file lawsuit to enforce their rights.
I may have misunderstood your post. Kindly clarify.
Who has the remainder interests in the property?
I understand that the parents have life estate, but who have the remainder of the estate after the passing of the parents?