Legal Question in Wills and Trusts in Florida
Fl. Homestead property
My 2nd wife and I have set Up separate revocable living trusts, and separate LLC. The homestead house was my before we married, and she has sinse deeded to me under my name and LLC. When I pass, I would like for her to be able to live in the house and not be able to sell it, and have it go to my kids, not hers. I don,t want my kids to be able to sell it , or theirs, etc., and on down the line. If property taxes are not paid, be able for it to the next living kids, or a charity!
WHAT IS THIS CALLED AND HOW CAN IT BE SET UP? THANKS
1 Answer from Attorneys
Re: Fl. Homestead property
You need to go and see a estate lawyer for something this complicated. I am not sure that you can have something like you describe that would prohibit a sale forever. Perhaps if you set up a trust where the house was in the trust along with enough money to continually pay expenses and taxes and had the trust purpose that the house be there for the family to use from time to time.
I am not sure that such a restriction is particularly wise, though.
Go see whomever set up your LLCs, living trusts and other entities.
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