QUESTION
My significant other of 10 years wants to leave me his home for $80,000 if he should pass away before me .How can we do this leagally?
Asked on Aug 21st, 2012 on Estate Planning - New Jersey
More details to this question:
We have been living together 10 years. He has 4 adult children. He wants me to have security and not have to worry about my living arrangements if he should pass first. He wants to leave me the house for $80,000. He also wants the $80,000 to go to his children. His home is worth about $300,000. We need something legally drawn up to give me the right to ownership of the home along with protecting the children so they will get $ 80,000 to divide among themselves.
1 ANSWER
2 Awards
You should see a lawyer to get a will drawn up. He could make it so that the children get $80,000 and you get the house, or life rights to the house which ever he prefers. The $80,000 could be a separate bequest, but you have to be careful about making you obligated to pay the children.
Answered on Aug 24th, 2012 at 8:30 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship