Q: Can I give my son a RIGHT TO LIVE in a property after my wife and i pass, just to provide him a place to live?
The property would then be sold if he leaves the property and divided according to the other stipulations of the will.
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A: Yes, that is entirely possible. The best way to accomplish this is with an attorney-drafted revocable living trust. Doing this with a "life estate" is not recommended for a variety of reasons that an attorney can explain to you during an extended personal consultation. A trust-based estate plan has advantages over a will-based estate plan, not the least of which is avoidance of the cost, delay and loss of privacy that are attendant to probate.
Anthony M. Avery agrees with this answer
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A:
Ms. Whitehurst is correct that a Trust is the best way to do this. But it will require a good Trustee, and Successor Trustees. It can also be accomplished without Probate through a Future Interest Deed, which would be very complex involving an Executory Interest, Possibility of Reverter, Contingent and/or Vested Remainderman.
You will need a very competent attorney to accomplish this goal.
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