So, my parents have been married over 40 yrs, both of them this is the second marriage. My mother and step father had 2 children on each side before marriage and no kids on their own. Father (step, but basically a dad to me) just got diagnosed with terminal disease. They just sold their house for a million (usd) and closes escrow in 3 weeks. The goal now is to make sure mother is protected financially. I’m totally green when it comes to trusts, but a friend of mine recommended parents put the home sale money into a trust. What’s the difference between just putting into a bank account over a trust? I do have a hunch the step sons of my dad could pull some shenanigans and in his death see that my mom doesn’t get any money. Any help would be great or questions I could ask my parents?
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source https://www.reddit.com/r/RealEstate/comments/10iekiv/proceeds_from_home_saletrust/
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