I finally have some good updates to share on my house situation. After seeing my brothers and that drama, I was given a referral to a trust attorney who is going to help me/us. We met with him this Monday. Got great information!! He sent us home to weigh our options and decide what we want to do given the choices we have. There are several.
The very first thing he said is that my brothers can’t insist I leave the house at any point. Even an eviction wouldn’t work. The trust protects me all the way around.
I have the option to sell the home and purchase another anywhere in the world I wish while staying in the trust. I can choose to stay in the current home. The last is to sell and split the proceeds.
Here’s where it gets really good. Selling and splitting the proceeds is what we chose to do, based on what he said. There is not going to be an even split between us. No, no! My life estate status is worth much more than 1/4 of the house. In our discussion, the lawyer pulled out a chart of life expectancy and the value in percentages of what that is in terms of the trust. At 47, I’m expected to live another 35.8 years, putting my percentage up around 90% of the total value of the home. Settling for a quarter is just plain stupid. (His words. lol) The attorney proposed a 2/3 – 1/3 split with the 1/3 being split among the 3 boys. See why I took this option? 😉
The process is just beginning. We meet with the attorney again this coming Monday to get things started. It’ll still be a process, but at least it’s in the works and I don’ t have to worry!!! My home won’t be put back together any time soon, but that’s kind of become the norm. *sigh* The end is in sight.
3 thoughts on “The House- Finally some good news”
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My advice is always to consult a lawyer! Good going – it’s so easy to be manipulated and taken advantage of if you’re not represented.
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I agree totally. I’ve been searching for months of a lawyer who’d take my case. Amazingly, so many trust lawyers won’t touch cases that have even the potential for litigation or even going before a judge for any reason. it’s a real pain the ass!!!! I finally found a really good one.