My mother is 86 years old and recently asked me to draw up a trust for her. She has a small life Insurance policy and

Question

lives month to month from Social Security.  Also, she owns her home but has a 2nd mortagage and  
Equity line  of credit on it.  She wants to put her home  up for 
sale.  However. she is concerned she may pass away before it  sells. 
What kind of trust does she need and that will protect her home incase, she passes away before it sells. 
Needing advice. Thank you

James L. Arrasmith · Answer

To protect your mother's home in case she passes away before it sells, she may want to consider setting up a revocable living trust. This type of trust allows her to retain control over her assets while she's alive and provides a way to transfer the property smoothly without going through probate. By placing her home in a trust, the sale process can continue even after her passing, and the proceeds can be distributed according to her wishes. 
 
A revocable living trust is also flexible. Your mother can make changes to it or revoke it entirely if her situation changes. It would include instructions on how to handle the sale of the home and any remaining debts, like the second mortgage and equity line of credit, ensuring her wishes are respected. 
 
Additionally, this approach could help reduce any potential complications or delays for you and any other beneficiaries. It's important to discuss this with a qualified estate planning attorney to make sure all documents are correctly prepared and align with your mother's intentions.

Q: My mother is 86 years old and recently asked me to draw up a trust for her. She has a small life Insurance policy and