Skip to main content

Proceeds from home sale-trust

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?

submitted by /u/DryFunction2022
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/10iekiv/proceeds_from_home_saletrust/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/