Q: Mom wants to leave her house to we three children, stipulating that it can then only be sold if all three agree.
Is this possible? I've moved in with her as she needs a caregiver. I want to continue living here after her death. Can my two brothers override my preference not to sell? Can mom stipulate that I'm to be allowed to live in the house? What inheritance costs will we each have? Appraisal is likely to be around $200,000.
A:
There ARE ways to insure this happens as you've described. It will not be possible with a 'simple' gift however. Your MOTHER (assuming she owns the house as her sole property) should consult with a local estate planning lawyer to determine what combination of ladybird deed, trust and/or will needs to be used and how it can best protect her during her lifetime, and also pass the property to those she wants to receive it after her passing. I'm not sure what KY law allows so it is VITAL that you get with a local attorney who can provide you real legal advice!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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