NVR Logo
Business for Friday, May 15, 2009

What is inherited is separate property

Dear Len & Rosie, My sister and I inherited a $2 million apartment building. My wife of 31 years and I have a trust. I have no problem adding her name to the deed as a trustee, but could I stipulate in an agreement with my wife that if she asked me for a divorce down the road she would give the property back to me? -- Douglas

Care, support for disabled sister

Dear Len & Rosie, I am the trustee of my recently deceased mother’s trust, which includes a special needs trust for my disabled sister, Judith, who is on Medi-Cal and Supplemental Security Income. Both before and after our mother’s death, my sister has rented a property owned by the trust. As trustee, can I pay off the mortgage on this property and turn it over to my sister while staying in compliance with the terms of the trust? -- Ben

Search:
Web Search Powered
By Yahoo! Search
Copyright © 2009 Napa Valley Publishing, a member of Lee Enterprises, Inc.
Terms of Use | Privacy Policy