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Who is responsible for providing maintenance, paying property taxes and insurance on my father home. His will states his wife as a Life Estate in his homestead property. And then it will be divided between his 4 children.
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His wife is responsible for the maintenance, taxes, and insurance during her lifetime because she owns the home during her life. A life estate means the person who receives the interest (your father's wife) has the right to occupy and use the home during her lifetime and as such is responsible for the care and maintenance of the home during that time. Once she dies, the home belongs to all 4 siblings equally, and then the four of you will be responsible for the maintenance and related upkeep of the home.
Answered on Aug 16th, 2013 at 4:37 PM