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John Elder
John Elder, Estate & Elder Law
Category: Estate Law
Satisfied Customers: 4631
Experience:  Over 14 years experience in Medicaid, Estates, Trust.
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How can I make sure my wife gets an income after my death from

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How can I make sure my wife gets an income after my death from seperate rental property and have my children from a previous marriage inherit after my wife's death? Can I do this in my will?
Welcome! Thank you for your question.

You can do this in your will. You would need to put in your will a spousal income only trust. This is a trust inside your will that would designate that all income from the trust will be distributed out to your wife, the property remains in the trust and the trust distributes the property out to your children at the death of your wife.

You will have to name a trustee to control the trust until the death of your wife. Your wife cannot be the trustee since she is the beneficiary. One of your children or a third party can be a trustee.

I cannot provide you with legal advise. I have provided you with information about the law related to your question. My answer, and any information that you find online, should not take the place of having a consultation with a lawyer in your area to advise you regarding your specific issues.

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John Elder and 2 other Estate Law Specialists are ready to help you
Customer: replied 4 years ago.

Can this trust be done with legalzoom online? Can I do this myself without attorney's fee?

I am sorry, I am not an employee of Legalzoom so I do not know if they have such a trust with their online trust preparation forms. I would assume that they have a simple trust that you could include.

This is more than just basic standard planning. You would be much better off with hiring a lawyer to draft these documents. This is pretty complex. However, it is really the only way to assure that your wife has the income to the properties but your children receive the property upon your death.