What You’ll Learn in This Episode

• Why housing risk is common in blended families and cohabitation situations
• What a life estate actually is
• How life estates can be created (by deed, will, or trust)
• The difference between ownership and the right to live in a home
• Why many people are uncomfortable blending ownership, even in committed relationships
• How a lease can provide housing security without lifetime guarantees
• The limits of estate planning documents when someone is still alive
• What responsibilities a life tenant typically has
• Why you should define when and how a life estate ends
• The importance of spelling out rules around repairs, renting, and exclusive use
• How giving a right to purchase can add clarity
• Why clarity is kinder, and cheaper, than confusion

Resources & Links

• The Death Readiness Playbook Sign up to be notified when it’s released this week: https://deathreadiness.com/playbook
• Tuesday Triage Question Submission Have a question for a future episode? https://deathreadiness.com/tuesdaytriage

Connect with Jill:

• Website: DeathReadiness.com
• Email: jill@deathreadiness.com
• Learn more about Jill’s services
• Subscribe to the Death Readiness Dispatch!
• Submit a question for Tuesday Triage

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This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.