Estate Law Questions? Ask an Estate Lawyer.
Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.
Anything gifted or willed to your daughter is her separate property.It is exempt in a divorce.Unless she were to add his name to title this doesn't change in a divorce situation.By titling it in her name it is separate nonmarital property here and he cannot have an interest in it in the event hey were to divorce later one.
You would have option here to use a lawyer to create a living trust to hold title and make daughter beneficiary if you are concerned she might be taken advantage of.In that case the trust holds legal title in the name of the trust and she would just be equitable owner and could not gift it away.It would be an option here if you have concerns he would take advantage of the daughter and try to change title.
I appreciate the chance to help you today.Thanks again.
And you have legitimate concerns here, I see these kinds of things everyday, they get parents to sign things like deeds, wills, etc that you don't know about and take advantage.This is called exploitation of the elderly.You may want to consider a guardianship yourself if you want to protect parents from these people.
You may want to start here with a visit to the county deed records where the property is located to get copy of the deed and see if anything else has been filed.That will tell you whether there are problems at least with the deed.
But if my sister titles the property in her new spouses name, there is nothing that can be done anymore if they divorce in the future right? Thats correct it becomes marital property.And it could be your sister is titling it in his name for benefit purposes, you never know what games people are up too.But these are both possibilities.And there is a loss of income to parents if she is living there rent free.
It is not considered undue influence here to involve a lawyer.You have legitimate concerns.Your parents would be able to sign a living trust prepared by a local lawyer.
I am concerned that your sister and her husband might try and leave you out here one way or another.I have been through this with a sibling, people can be greedy.
I would agree that your parents are getting less, no rent here at all.Not sure what you can do for sister.I think you look out for your parents and yourself.Since she is married some of that is beyond your control whether she adds him to her share of properties , accounts, etc.
The lawyer would create it for your parents here.if they have capacity.It may be too late if they lack capacity here.
Yes ti would take both here life estate holders and the residual ones if they wanted to ell or transfer a complete title.The life estate owners can only transfer their life estate.
So maybe they talk to lawyer about a trust.Lawyer decides if they have capacity as he would be witness.You could hire him to come to house to interview them.Thats your call but it is possible.
The lawyer would come to house if parents have trouble getting around.You could go to his office with parents if that is not a problem but they do make house calls if needed.
Life estate holders either need remindermen or they can only covey their life estate and not remainder interest.
Here the life estate would be voided if both parties abandon the home for a nursing home.Might be a back door way of claiming the house to live in and then get title sooner.Thats what I see here.