by mishel121 » Wed May 13, 2009 08:52 pm
due to financial difficultys, we are no lnoger able to live where we have, my grandfather has offered me to move in with my children and he would leave the house to me, he has 5 children and 11 grandchildren and there is uproar, the main reason he wants us there is for company, would the will hold if they contested, i am trying to look at solutions such as trying to re mortgage to give the 5 children a share but he will not enter this into his will as they do nothing for him and i dont know what to do and i do not want to do home improvements if it will be taken from us, and there is a lot of DIY to do
Posted: Thu May 14, 2009 12:16 am Post Subject:
The only way they can contest his will is if they can prove that he altered it under duress or was not of sound mind when he made the changes. It sounds like you are interested in giving the other children a share, and if you still feel that way...you can do so after he passes away. You would be able to mortgage the house after the estate settles (well and most banks have a 1 year seasoning requirement).
As long as all the i's are dotted and the t's are crossed...there will be nothing they can do to contest it. Make sure you know exactly what the will says, and this should put your mind at ease before you do any costly repairs or improvements.
Let me know if you need any more help!
Posted: Thu May 14, 2009 05:06 am Post Subject:
Hi Mishel, yes, the others can contest the will but as Chris has mentioned they have to prove it to the court that grandpa made those changes under influence. Until then you need not worry.
Thanks,
Rupert
Posted: Thu May 14, 2009 06:47 am Post Subject:
While it's true (for the most part) that it's tough to contest a will unless specific circumstances are in place (fraud, duress, undue influence, transfer of asset issues, etc.), there's nothing that says that a person can't try. Even though a will may be ironclad, you can still contest it, and certain jurisdictions will actually hear the case.
So, even though you'll probably win your case- you'll lose in terms of attorney fees, court costs and everything else that goes along with dance to the tune of the probate court boogie.
Easy solution? Side-track agreement to the will. Even a separate agreement with everyone who's throwing a hissy-fit, if a side-track won't work because Dad won't amend his will. Draft a legal contract through an attorney with all of the parties signatory to the contract. Discuss the terms of the agreement as to how you want things divvied up before you hire counsel, you don't need him for that. You can figure out how you want the terms to read between yourselves, assuming you're all sane and rational adults. I say that because it's often to the contrary. Normally sane people go to the dark side when money is involved, so be ready for a cat fight. Find a competent contract lawyer, tell him you want him to draft the contract according to your desires, tell him him to include all the legal crap like "severability" and "entire contract" and other legal mumbo-jumbo provisions, pay him his $200 bucks and get outta Dodge.
This is the easy way, and will save everyone countless issues compared to if left unresolved.
InsTeacher 8)
Posted: Thu May 14, 2009 10:24 am Post Subject:
Why would you want to go against his wishes and have him leave something to his 5 children? If he wanted to do so, he would. He's a grown man. It's his house. If he wants to leave it to you, he should.
Posted: Thu May 14, 2009 12:30 pm Post Subject:
Go to an attorney get an iron clad will nailed down...why not also have your name put on the house now? I'm on all of my dad's, and mom's property (their divorced)
Posted: Thu May 14, 2009 12:36 pm Post Subject:
If he wanted to do so, he would.
Yes, he should have his own way of deciding it. If you're trying to avoid future problems with his 5 children, then I must ask you to refrain from doing so. How could you be sure of their intentions? I'm sure your grandfather knows it better since he's stayed with them. It is his right to choose his heir.
Posted: Thu May 14, 2009 01:27 pm Post Subject:
If you really want to make sure that there is no way to contest it, talk with an estate attorney about creating a life estate and title the property accordingly. Without getting too in depth, a life estate technically means the property is yours...but it gives your Grandfather permission to live there as long as he is alive. There are some tax implications and there are specific reasons to do this (such as moving assets to qualify for various types of government assistance), but this may actually make sense in your case.
Posted: Thu May 14, 2009 05:56 pm Post Subject:
Go to an attorney get an iron clad will nailed down...why not also have your name put on the house now? I'm on all of my dad's, and mom's property (their divorced)
Be careful of how this impacts the step-up in basis at death.
Posted: Fri May 15, 2009 05:32 am Post Subject:
Hi Chris,
It would be really good for him if he would qualify for govt. aids henceforth.
If you really want to make sure that there is no way to contest it, talk with an estate attorney about creating a life estate and title the property accordingly.
Won't he need his grandfather's involvement while titling the property?
Steven
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