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  • January 4, 2009 at 8:19 AM #324032
    seattle-relo
    Participant

    A friend of mine and her husband (who also has a teenage son from a previous marriage) have had the same type of issues regarding inheritance, property, etc…so what they did was had the husband take out a seperate life insurance policy where his son is the only beneficiary to address the husband wanting to make sure his son got some inheritance and the wife to feel comfortable about her future if he should die before her. I recommend you speak with an attorney, since blended marriages are not at all uncommon these days, I would bet that an experienced attorney would have some creative solutions.

    January 4, 2009 at 9:37 AM #323559
    SD Realtor
    Participant

    Gotta agree with HLS here. You also seem to be restricting the discussion to the home. I would presume that as you guys go through life together there will be more assets that you accrue. You will run into the same situation with those assets as well.

    This is much more of a legal issue then it is a real estate issue.

    I would sit down with an attorney and review all of the options. Another option to consider is a trust. I will not go into details here but look at the big picture and don’t restrict the conversation to just the home.

    You definitely need to sit down and discuss who makes what and who gets what when there is a death in the family. Consider one of you passing away verses both of you passing away as well. What happens if you die and the widow then remarries? What does your child get?

    You see what I mean?

    January 4, 2009 at 9:37 AM #323895
    SD Realtor
    Participant

    Gotta agree with HLS here. You also seem to be restricting the discussion to the home. I would presume that as you guys go through life together there will be more assets that you accrue. You will run into the same situation with those assets as well.

    This is much more of a legal issue then it is a real estate issue.

    I would sit down with an attorney and review all of the options. Another option to consider is a trust. I will not go into details here but look at the big picture and don’t restrict the conversation to just the home.

    You definitely need to sit down and discuss who makes what and who gets what when there is a death in the family. Consider one of you passing away verses both of you passing away as well. What happens if you die and the widow then remarries? What does your child get?

    You see what I mean?

    January 4, 2009 at 9:37 AM #323961
    SD Realtor
    Participant

    Gotta agree with HLS here. You also seem to be restricting the discussion to the home. I would presume that as you guys go through life together there will be more assets that you accrue. You will run into the same situation with those assets as well.

    This is much more of a legal issue then it is a real estate issue.

    I would sit down with an attorney and review all of the options. Another option to consider is a trust. I will not go into details here but look at the big picture and don’t restrict the conversation to just the home.

    You definitely need to sit down and discuss who makes what and who gets what when there is a death in the family. Consider one of you passing away verses both of you passing away as well. What happens if you die and the widow then remarries? What does your child get?

    You see what I mean?

    January 4, 2009 at 9:37 AM #323978
    SD Realtor
    Participant

    Gotta agree with HLS here. You also seem to be restricting the discussion to the home. I would presume that as you guys go through life together there will be more assets that you accrue. You will run into the same situation with those assets as well.

    This is much more of a legal issue then it is a real estate issue.

    I would sit down with an attorney and review all of the options. Another option to consider is a trust. I will not go into details here but look at the big picture and don’t restrict the conversation to just the home.

    You definitely need to sit down and discuss who makes what and who gets what when there is a death in the family. Consider one of you passing away verses both of you passing away as well. What happens if you die and the widow then remarries? What does your child get?

    You see what I mean?

    January 4, 2009 at 9:37 AM #324057
    SD Realtor
    Participant

    Gotta agree with HLS here. You also seem to be restricting the discussion to the home. I would presume that as you guys go through life together there will be more assets that you accrue. You will run into the same situation with those assets as well.

    This is much more of a legal issue then it is a real estate issue.

    I would sit down with an attorney and review all of the options. Another option to consider is a trust. I will not go into details here but look at the big picture and don’t restrict the conversation to just the home.

    You definitely need to sit down and discuss who makes what and who gets what when there is a death in the family. Consider one of you passing away verses both of you passing away as well. What happens if you die and the widow then remarries? What does your child get?

    You see what I mean?

    January 4, 2009 at 10:31 AM #323589
    temeculaguy
    Participant

    I love seattle relos suggestion of taking out a life insurance policy on you with just your son as the beneficiary, that seems perfect.

    January 4, 2009 at 10:31 AM #323925
    temeculaguy
    Participant

    I love seattle relos suggestion of taking out a life insurance policy on you with just your son as the beneficiary, that seems perfect.

    January 4, 2009 at 10:31 AM #323991
    temeculaguy
    Participant

    I love seattle relos suggestion of taking out a life insurance policy on you with just your son as the beneficiary, that seems perfect.

    January 4, 2009 at 10:31 AM #324008
    temeculaguy
    Participant

    I love seattle relos suggestion of taking out a life insurance policy on you with just your son as the beneficiary, that seems perfect.

    January 4, 2009 at 10:31 AM #324088
    temeculaguy
    Participant

    I love seattle relos suggestion of taking out a life insurance policy on you with just your son as the beneficiary, that seems perfect.

    January 4, 2009 at 5:07 PM #323734
    Veritas
    Participant

    I think a living trust is in order to spell everything out and a life insurance policy. I also disagree with the son being on his own at 18. Most kids are not ready to take care of themselves at that age and what about college or trade school. She sounds kind of one way to me.

    January 4, 2009 at 5:07 PM #324069
    Veritas
    Participant

    I think a living trust is in order to spell everything out and a life insurance policy. I also disagree with the son being on his own at 18. Most kids are not ready to take care of themselves at that age and what about college or trade school. She sounds kind of one way to me.

    January 4, 2009 at 5:07 PM #324136
    Veritas
    Participant

    I think a living trust is in order to spell everything out and a life insurance policy. I also disagree with the son being on his own at 18. Most kids are not ready to take care of themselves at that age and what about college or trade school. She sounds kind of one way to me.

    January 4, 2009 at 5:07 PM #324152
    Veritas
    Participant

    I think a living trust is in order to spell everything out and a life insurance policy. I also disagree with the son being on his own at 18. Most kids are not ready to take care of themselves at that age and what about college or trade school. She sounds kind of one way to me.

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