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Jeff B. Skoubye

Jeff Skoubye’s Answers

3 total

  • How do I add a stipulation to my will that allows two of my grown children to remain in the home?

    I want to add a stipulation to my will that will give two of my children the chance to remain in my home after my death. I have 6 children that will get equal shares of my home. But two of them have helped me maintain and keep the home for years...

    Jeff’s Answer

    First, you could provide in your will that these children are provided a legal life estate. This option would give the two children the right to the home and its rents and profits during their lifetimes.

    The second option, is to create a trust inside your will (a testamentary trust) that provides for the children to stay in the home after your death. This option is more flexible and allows you to set specific conditions and regulations over their occupancy of the home. The Trust acts as a container to hold the home until an event of your choosing triggers its sale or distribution.

    Third, and I believe the best option, is to create a living trust and place your home and other assets into the trust during your lifetime. You can provide the same carefully tailored planning for the home after your death, you can also provide for the home and its use during lifetime, and you can avoid probate at death and on incapacity. Living trusts are truly the estate planner's swiss army knife and is by far the best option in this particular scenario.

    In any of these options, you will definitely want an experienced estate planning attorney to assist you with this planning.

    Jeff B. Skoubye
    "Your Business & Estate Planning Resource"
    Olsen Skoubye & Nielson, LLC
    Attorneys at Law
    999 Murray Holladay Road, Suite 200
    Salt Lake City, Utah 84117
    jeff@osnlaw.com
    (801) 365-1030 (Main Line)
    (801) 365-1012 (Direct Line)
    (801) 365-1031 (Fax)

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  • If I were to remarry would my new wife automatically inherit my estate ?

    I have meet a new lady since my first wife's death I am consedering marrage there is quite an age difference between us I hope she wants me for my love not just a divorce so she can get material things

    Jeff’s Answer

    Obtaining a prenuptial agreement is the only safe way to protect yourself. If she is marying you for love and not money, a prenuptial agreement shouldn't be an impediment to your marriage. They are generally not expensive to obtain and provide dramatic protections in case of divorce or death.

    Jeff B. Skoubye

    "Your Business & Estate Planning Resource"

    Olsen Skoubye & Nielson, LLC
    Attorneys at Law
    999 Murray Holladay Road, Suite 200
    Salt Lake City, Utah 84117
    jeff@osnlaw.com
    (801) 365-1030 (Main Line)
    (801) 365-1012 (Direct Line)
    (801) 365-1031 (Fax)

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  • A question about heir to the living trust.

    My mother has passed over a year ago in july of 2011. My mothers house sold,my sister being the executor,has given my brother his portion in the sale of the house, My sister has been shady in how she is handeling the estate. It states in the trust...

    Jeff’s Answer

    The answer to your question is most likely contained in the trust itself. Trustees are required to cary out the wishes of the grantor of the trust as expressed in the trust. If your mother has stated in the trust that you cannot receive the money until you purchase a house, then that may be controling.

    If you have a copy of the trust, you should have it thoroughly reviewed by a competent attorney in this area. If you do not have a copy, you are entitled to one, and should request one from the Trustee. After review, the attorney should be able to answer your question with much more confidence.

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