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Option 3) Bare Life Estate – This is equivalent to Life Estate without the Mother’s Dispositional Power. The mother can add the two children as remaindermen. When the mother is alive, she has no exclusive rights to the property. The mother and children must join legal decisions regarding the real estate property. The remaindermen’s ownership is completely vested and is not subject to divestiture. After the Mother’s death, the two children own the property, either as joint tenants or as tenants in common, depending on how the mother adds these two children to her deed, subsequently it will avoid the mother’s will and probation.
Contact me should you have further questions.
Flora Kan, Licensed Title Producer/Notary Public
Aestar Settlements LLC
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C: 240-351-6098 F: 888-501-3060 E: [email protected]
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This column is not legal advice and should not be acted upon without obtaining your own legal counsel.
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