Q: Judge gave me a set aside for homestead as surviving spouse. No kids and an old will all goes to A&M. What am I to pay?
Everything that I have read shows that I have to pay taxes and upkeep on home. The home has no mortgage. I am being told that I have to pay homeowner's insurance. What is the truth? This is in Texas
A: It sounds like you have a life estate. Life tenants must maintain the house, which should include an insurance policy to protect the remaindermen in the event that the house is damaged. If there was a fire, for example, you'd be responsible to pay for the damages. An insurance policy is cheaper.
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