Q: Can I name 3 people on my life estate

A: Your intentions are unclear. Do you want to grant a life estate to your son and his mother for their joint lives, remainder to you? (So you move out while they are alive and then move back in when they die.) Or do you want to convey the property to them, reserving a life estate to yourself? (You live there for life and then when they die the property belongs to them jointly.) Or something else? Maybe you want a life estate for yourself, then joint life estate for them, then remainder to someone else?

Either way, understand if you make any of these estates for son, his mom, and step-son, then step-son will have the right to live there as well, all at the same time.

Life estates are lousy "investments", not readily marketable.

You should consult with an experienced estate planning attorney in your area and clearly explain your intentions. There are other ways to accomplish this that might work out better than a life estate deed.

A: Yes, you can name three people on your life estate deed, including your biological son, step-son, and their mother. The life estate would give your son and his mother the right to live in the home for life, while the step-son could be included in the remainder interest, meaning he would receive ownership of the property after the life tenants pass away.

Since your step-son already owns his own home, his interest in the life estate property could be viewed as an investment, but it won’t affect his current home as his primary residence. He wouldn’t be considered an owner until the life tenants’ interest ends. As there is no rental income or money involved, this likely wouldn’t complicate his taxes or ownership of his primary residence.

It's always a good idea to clarify how each person’s role is defined in the deed, especially for long-term clarity. If you want your step-son to have a share in the property after the life estate ends, it's important to outline that in the remainder interest of the deed. Make sure everything is clear to avoid future conflicts.