You Need A Will - Trust Is Not Enough

Reblogger Fred Griffin Tallahassee Real Estate
Real Estate Broker/Owner with Fred Griffin Real Estate Florida Broker BK436788
Original content by Margaret Rome Baltimore 410-530-2400 311291

 

If you are in a marriage and own a home...make sure you have a will.  You need to see, understand and possibly change the previous will.

Lately, I've had two situations that could have been prevented by a simple will...as opposed to these words...

''Don't worry honey, you'll be taken care of."

 

For both of these...please seek legal advice.

 

First example:

A couple was married for 15 years when the spouse died leaving the wife as personal representative. Sounds OK right...nope. The heirs from a previous marriage now want the house. Hmmm, let's see the will. It was not enough to have the present widow as PR. The will has the previous wife listed. OOPS. The second wife is probably screwed except for survivor benefits.

 

 

Second Example:

A couple married over 20 years bought and paid for their home. There was no mortgage.  It was in the wife's name and they both agreed to put the daughter's name so that it would remain in the family.

 Husband died and in a very short time, the daughter is forcing the sale of the house demanding half of the proceeds. Is this what her father had intended? Probably not.

It is always good to seek legal advice and check your will.

Does it really say what you want? 

Trust is not enough. 

 

Margaret Rome

 

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Margaret Rome Baltimore 410-530-2400
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Thanks for the reblog Fred Griffin  This is good information to get out to the public.

Dec 05, 2018 06:36 PM #1
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for reblogging the post. I hope others will read it too and learn 

Dec 06, 2018 02:26 AM #2
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