My mother recently passed and left her house to all of her children. We have decided to keep the property but want to designate one of my siblings as a caretaker who lives on the property. We would like to do this legally and want to know how to develop documentation and what elements should the documentation contain? The property is located in Colorado although I live in Nevada.
1 Answer from Attorneys
I am sorry for your loss. The property will have to go through probate to pass to the kids, unless there was a beneficiary deed. Once the property is transferred to the kids, you then could do a pretty simple agreement for taking care of the property, including their duties, who pays what expenses (e.g., the caretaker pays electricity, but all siblings would agree on any big expense and share such expenses), etc. You might also want to add a provision on buying out any sibling who wants out so you don't fight about that later. The probate is the longer part - the agreement is fairly straightforward, though there can be a lot of details to work out as part of it. I could help with this sort of thing and have experience with it if you would like help.