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I've 2 properties should I put them in trust or should I put under a corporation or LLC ? Thanks. Cathy

Sunrise, FL |

I would like my son to be the beneficial of my property if any thing happen to me. I'm married right now. can my husband try to claim my properties. If we divorce or I pass away.

Attorney Answers 3

Posted

Of course, he could try. But if you have kept these properties as your separate property, and the properties are not considered homestead property, then your husband would probably not be entitled. A trust is one alternative. Lady bird deeds are another. I like using lady bird deeds because of their simplicity. They also cost less than other alternatives. You should meet with an estate planning attorney to discuss the options available to you and determine how best to proceed, based on your situation.

James Frederick

*** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state.

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Posted

In Florida, it is a bit more complicated than previously mentioned. If the properties were purchased by you during the marriage from marital funds or an inheritance that was commingled with marital funds, then the properties could be considered a marital asset. Regardless of how you try to distribute the property through a trust or lady bird deed, your husband, if you predecease him, has a right to an elective share of your estate. If you divorce, Florida law deems that he has predeceased you and he is entitled to nothing from your estate that wasn't already identified in the divorce settlement. Creating a corporate entity will not provide the protection you seek. A good Florida trusts and estates attorney can help you with this matter.

Information provided here is anecdotal and should not be relied upon or considered legal advice. Every matter is different and answers given here are general in nature and may not reflect current Florida law at the time you are reading this posting. Please contact an attorney for legal advice concerning your matter.

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James P. Frederick

James P. Frederick

Posted

I understood from the stated facts that these properties were the separate property of the wife. Of course, if the husband had paid mortgage payments or taxes, (or if marital funds had been used in any way, there would be some argument that they were no longer separate). Obviously, that is one of the key aspects to this situation. I agree with you, though, that it appears critical to see an estate planning attorney to address this, right away.

Posted

What about post-nuptial agreement together with irrevocable trust to take properties out of your estate now?

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