QUESTION
can someone will rent proceeds to someone without giving them ownership ?
Asked on May 10th, 2014 on Wills and Probate - California
More details to this question:
My mother in law is receiving my dead fathers portion of rent money from my fathers property according to his will. She does not own the property at all it is in trust for me and my siblings
1 ANSWER
It is fairly common to split an interest. That is give one party (step-mom) the current economic interest and another party (you and your siblings) the future interest. It can be done by will, trust or even the face of a deed in the form of a life estate.
Answered on May 13th, 2014 at 10:19 AM