I live in florida- my husband and I own our home outright- I stand to inherit quite a bit of money on my mother's death. question is- we have 3 kids- one is my son and the others are his 2 kids (all adult). When I die, I want my husband to have the house and use of the money left but when he dies (assuming I die first) I want the money left to go to my son (left from his grandmother's estate) and the house can be sold and divided up 3 ways for the 3 kids. In other words, I dont want my stepkids to have any of the money left from my mother's estate- only my son. How can I make sure this happens if I die forst?
3 Answers from Attorneys
This can probably be done with one variety or another of trust; but frankly, you need to talk to a lawyer about the details, this is semi tricky area and you don't want to try to do this yourself. You may also need some sort of homestead waiver from your husband, but none of this is insurmountable.
YOu are going to need to set up a trust at the time of your inheritance. That way if you die before your husband, the trust will become irrevocable (meaning he can not change it) and then you can be assured that your son will get his fair share.
I agree with the previous answers. Consult with an attorney about doing an AB Bypass Trust. This type of trust is set up for this exact scenario.