Creating a living trust for my house/Carlos Pueblo
The other day my daughter Michelle sent me a message that I should create a living trust for the house which I own, half of it, to my son Arthur in case that I die to avoid the probation. I ignore it due to several reasons. First, the house is not that expansive; secondly, Amy owns half of it. If I die, both Amy and Arthur are still living in the same house, probate or not. The only objection will be from Michelle to contest my will that means my will doesn't divide fairly. I doubt that she will challenge it because that she is much better off than me. I have had a very simple family history that Arthur and Michelle are my only heirs and I don't generate too much of assets during my life time.
I have had a will which is subject to a contest. I am very happy that I still have some left for my children. I am very much better off than my parents. I don't think that there is too much to worry about the estate tax after all. It is more practical that I distribute some of my savings annually to my family members who are all younger than me with more time and less pressure to face varies taxes. One big factor that I need to worry about is the final medical expanse that is why I exercise every day and to do my best.
Amy has another idea which may help. She intends to sell this house after my death to move to a smaller and newer house to live that Arthur is easier to take it over. We don't know when it will be at least that is a good idea. It is nice to have something that we can worry about how to manage it than have nothing to manage and worry everything to make the end meet.
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