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living trust
 

mackay
Deleted

Sep 30, 2003, 9:24 AM

Post #1 of 2 (4314 views)

     living trust  

I am planning on marrying a widower of 1 1/2 years. Since he owns some valuable land, it has been important to me that he set up a living trust so his children are secure about my intentions. His only form of assets (other than Social security) is in land. I am 47 and he is 60. I am confused aout how to ensure that I am not thrown out into the cold if he should pass before me. In addition, we live on his ranch, where I will be working and helping him over the years. At this time, the trust is written that everything goes to his daughters (30 and 40). I want them to feel secure about this because I don't want anyting to cloud my relationship with them at this early stage. However, I started getting scared that if he died (God Forbid) and I was older they would come and just ask me to leave our home, etc and I would have no means of support or anywhere to live. How can we figure something out that is fair and appropriate...while avoiding looking like a golddigger?
Confused and scared.



GettingRemarried.com Legal Advisor

Sep 30, 2003, 3:35 PM

Post #2 of 2 (4297 views)

     No Need for Confusion or Fear... [In reply to]  

He should leave you a life estate in the marital residence with the remainder interest to his children when you die. If you need income also then he should create a trust where the interest accrues to you for life with the principal to his children when you die.

If you need more advice on financial planning please go to our page on the subject.

 
 
 

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