Q: Division of inheritance when one or more children die. Spousal and grands concern. Following is more in depth question.
Three children. All married. Want to put the house in all three of their names. However if one child dies, I want the remaining two to get the third chip’s portion to divide. I do Not want my child’s widower Or even my grandchildren to inherit that portion. Strictly want my children to have the house. How do I do that?
A: You could convey to each of the three kids as joint tenants with right of survivorship. Rarely do I suggest that estate but it appears to meet your wishes. However during the three, then two childs' lives somebody has to pay taxes, insurance and possibly a deed of trust note. Also the surviving child takes the fee which would then be subject to his heirs taking, which could include a spouse. A deed takes effect now. A trust might be created, but you better have a reliable trustee and successor trustees.
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