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Dwayne B.
Dwayne B., Attorney
Category: Estate Law
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Experience:  Estate Law Expert
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NY Can the owner of a Life Estate which was deeded to his

Customer Question

NY Can the owner of a Life Estate which was deeded to his adult children, still have the opportunity to create a trust on that property? Is there a grace period after the transfer of the property where this can still be added?
Submitted: 12 months ago.
Category: Estate Law
Expert:  Dwayne B. replied 12 months ago.

Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to helping you today.

There is no grace period, the deeding of a property takes effect immediately unless the deed specifically directs otherwise and that direction would have to be in place when the deed was originally done.

The children or whoever received the property could create a trust or they could deed the property back to the original owner who could then create the trust and do whatever was supposed to be done. However, if the children are willing to agree to deed it back then they all (the children and the parent) meet with a real estate attorney and let them evaluate the best way to achieve the goal.

If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a Positive Rating so I receive credit for my work. Of course, please feel free to ask any follow up questions in this thread. I want to be sure that all of your questions are answered.

Customer: replied 12 months ago.
If one of the adult children has fallen mentally ill after marrying a dubious new spouse, and continues to be on antidepressants and heavy medication.... what can be done to protect this sibling who seems to be driven to death and being coerced by the spouse to partake in self neglecting behavior that makes the sibling sick?
Expert:  Dwayne B. replied 12 months ago.

The best avenue is probably going to be to apply for a guardianship over the child through the court system. This allows the guardian to care for both the health of the child plus the assets of the child's estate. The guardian can make all health care decisions for the child subjecto to oversight of the court.

Expert:  Dwayne B. replied 12 months ago.

I am about to go offline for a couple of hours. If you have follow up questions please post them in this thread and I will pick up when I return.

If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a Positive Rating so I receive credit for my work. Of course, please feel free to ask any follow up questions in this thread. I want to be sure that all of your questions are answered.

Customer: replied 12 months ago.
The adult child isn't completely incapacitated to that extent but they've had a history of mental health disability issues most of their adult life and the spouse is now trying to become their guardian.
Expert:  Dwayne B. replied 12 months ago.

They don't have to be completely incapacitated all the time for a guardianship. The parent, siblings, and spouse can all try to be guardian and then the choice is just up to the judge.

If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a Positive Rating so I receive credit for my work. Of course, please feel free to ask any follow up questions in this thread. I want to be sure that all of your questions are answered.