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You live in Florida and inherited property. How can you put it in a revocable trust for your children and out of your husband's reach?
You must consult with an attorney who specializes in trust law and who has a good reputation in the community. The attorney will review your situation and explain your options. Most importantly, she/he will draft a trust that is valid under state laws and meets your needs. It is important to draft a trust that will be invulnerable to challenges. That is the only way to protect your children's interests.
What else can I help you with?
What does the Revocable Living Trust provide?
A revocable living trust is very similar to a living will. The owner of money or property can determine what happens to their estate after their death.
Can a property held in a Revocable Living Trust qualify for the Florida homestead exemption?
While I am not a Florida attorney, the general rule is that including property in a Revocable Living Trust does not change the ownership for purposes of a homestead exemption. Because such a trust is revocable at any time, it is still considered your property and therefore still qualifies for a homestead exemption.
Can you have a revocable yet perpetual license?
Yes, a revocable yet perpetual license can exist if the licensor reserves the right to revoke the license at any time but grants permission for the licensee to use the licensed property indefinitely. Despite being revocable, the licensee can continue to use the property for as long as the licensor does not choose to revoke it.
What is heir property?
It is property that is inherited.
Are children responsible for maintaining deceased parents property?
If they inherited the property then they have a stack in the property and responsibility to uphold the standards of the community;Howerver, if they are not the property owners and have no interest in the property then, I would say they should not be held responsible.
Can your children be beneficiary to your husbands estate?
Yes, if they are named in the will. Or if the will leaves the money to you or your descendants. If your husband is not their father, there is no automatic right to the property.
What is an entailed property?
Property that can only be inherited by a male.
After a revocable living trust has been established can additional property be transferred to it?
Yes. If the trust was properly drafted property can be transferred in and out of the trust by the trustee.
How should husband take possession of property he inherited?
He should take all the possession of the property he inherited. Of course if the wife did not inherit any of the property.
What do you need to do when someone sells property that they inherit?
Nothing, they are quite entitled to sell any property that they have inherited. Once they have inherited it, it becomes their property to do with as they wish.
Are wives considered property of their husbands?
No, wives are not considered property of their husbands in modern society. Marriage is a partnership based on mutual respect and equality.
How do you find out who the executor is of a revocable trust is?
A revocable trust has a trustee not an executor. If you want to know something about the trust you would need to ask the trustor. The trustor is the person who created the trust to hold title to their property.
