Mother has to update Trust need input.

[2HOTinPHX]

Our dear Dad passed away last week. We were hoping he was going to recover but he went down hill fast. We had a consultation an elder care attorney. They suggested to have dear Moms trust updated since it has been many years. Mom would like to keep the house in the family. I have three siblings oldest just turned 60 and three of us in mid 50s. One brother has been living in the house with parents for about 5 years. It has been good for him and parents to have each other around. Can a trust state that someone can stay in house when you pass and if that person decides to move then the house be sold and proceeds be divided? It's the bay area so very high cost of living. Brothers job is there so we would like him to be able to stay in home. He owns a home about three hours out of town he goes to on weekends.

[molly312]

Yes, you can get a trust to say that I am pretty sure.

[HarveyS]

Sorry for your loss. The trust can say anything at all. I would spell out who pays for utilities, HOA, property tax, upkeep, etc on the home after DM passes. Is it the trust, or the resident? Also, from my recent experiences, get a professional trustee. If one of the siblings is the trustee, disaster is close by. Hurt feelings, interpretations that are different, lack of action on items to be done, poor communication, lack of follow-thru, etc. can all cause problems. With a professional these are less likely - and if there is a problem it is easier to change the trustee.

[joeea]

Quote:

Originally Posted by JDPascale Can a trust state that someone can stay in house when you pass and if that person decides to move then the house be sold and proceeds be divided?

Yes.

A good estate attorney can construct a trust to say just about anything.

[wolf]

You are lucky having a Brother, living in the house, with your Mom. (and Dad). I'm sure he was a big help during the stressful times.

I've seen this happen so often. When Mom passes, the other siblings get "greedy". Why did the Brother get to live rent free, etc. Not appreciating, his being there was great for parents.

During upgrade of Trust, this unfortunate topic should be discussed. To avoid, future
problems.

[2HOTinPHX]

Quote:

Originally Posted by wolf You are lucky having a Brother, living in the house, with your Mom. (and Dad). I'm sure he was a big help during the stressful times. I've seen this happen so often. When Mom passes, the other siblings get "greedy". Why did the Brother get to live rent free, etc. Not appreciating, his being there was great for parents. During upgrade of Trust, this unfortunate topic should be discussed. To avoid, future problems.

Thanks for the input and reminder to appreciate it was great for my parents to have my brother there to bring a little of the outside world to them. He even set up an above ground pond in their backyard and dad took a liking to feeding the koi.
We were also fortunate that our other brother and his lovely wife were near by and shared the responsibility of looking out for parents.