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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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A family member wants to give me some monies every month to

Customer Question

A family member wants to give me some monies every month to add to my retirement income, she wants it to be used as part of my monthly home mortgage. She also wants it to act as an investment opportunity for herself. How do I plan this to be fair with her and still insure a fair inheritance for my adult children? Do I offer her a percentage on her investment monies and a percent of the value of my home at my death? What is right to her and my adult children?
Submitted: 12 months ago.
Category: Real Estate Law
Expert:  LawTalk replied 12 months ago.

Good afternoon,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

There is no easy way to give your family member a part of your home based on monthly payments that they will be making to you, because you have no idea how long the payments will be made, how much money will ever be invested by the family member.

I can discuss this with you in a phone call, but trying to handle this in written format is all but impossible because of the numerous possibilities and my lack of knowledge of the agreement you are reaching with the family member, and what the family member expects.

If you would like to talk with me about this issue, I will make a call offer to you for a small additional fee.