My mother has put her home into a Life Estate for her children equally. She is now in assisted living and will not be returning to her home. The life estate has been in effect for over 5 years. Can we children sell her home while our mother is still alive? And can we children retain the proceeds rather than them going to our mother ?
1 Answer from Attorneys
A careful review of the enabling documents, the trust agreement or other documents which created the "Life Estate", needs to be made to answer your question. The attorney who assisted your mother in drafting the agreement would be a good place to start.