Q: What does it mean when dealing with a trust “Consent and termination of the life estate”
My parents named me as successor of their home and before my mother passed she had an amendment put in that named my son as the successor trustee with me as the survivor trustee. In the amendment it says
A. DISPOSITION OF SETTLORS' HOME: we direct that (me) and (my son) receive a life estate ni our home, with ownership of the home transferred to (my son) either upon (me) consent and termination
of the life estate, or upon (me) death.
A: It sounds unprecise but unless there are other relevant or inconsistent terms, you should be able to give to your son your life estate or possibly a remainder. You could do that without the trust language.
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