Life Estate Reversal

**oldtiredguy** · 04-13-2008, 08:31 AM

My question involves estate planning in the state of: Ohio I have a life estate in which I have a life interest which will go to my son and daughter-in-law. There is a possibility of a my son getting a divorce. Can the life estate be revoked or reversed before the divorce?

jk · 04-13-2008, 08:44 AM

Not unless it is written as such in the granting deed OR the parties that posses the contingent interest will deed it back to you.

Such a legal mess you would make though. Before you actually do anything, set down with an estate or real estate attorney to make sure things are done properly.

**seniorjudge** · 04-13-2008, 09:46 AM

Quoting oldtiredguy

...
I have a life interest which will go to my son and daughter-in-law.
...

Since a life estate ends with your death, how do you expect it to go to anyone?

**lwpat** · 04-13-2008, 09:49 AM

Life estates cannot be willed. Your life estate will end upon your death. That is what a life estate means.

I assume that you really mean that your son and daughter-in-law are the remaindermen. If that is the case, their interest has already vested and will be included in the divorce settlement. Life estates are generally not a good estate planning tool. You can buy their interests and have it back free and clear. Then you could will it to your son or put it in a trust.

**oldtiredguy** · 04-13-2008, 09:54 AM

I have used a life estate as estate planning to deed the land. The deed is not in my name but I have a life interest, proceeds etc. The land cannot be sold or mortaged until my death. The intent was to leave it to my son and his children and was done several years ago. It is in his and his wifes name.

**seniorjudge** · 04-13-2008, 09:57 AM

Quoting oldtiredguy

I have used a life estate as estate planning to deed the land. The deed is not in my name but I have a life interest, proceeds etc. The land cannot be sold or mortaged until my death. The intent was to leave it to my son and his children and was done several years ago. It is in his and his wifes name.

Gotcha.

Son and daughter in law are remaindermen. (Google)

Yes, you can change the deed.

Son and daughter in law will have to deed back their interest to you.

**oldtiredguy** · 04-13-2008, 10:26 AM

The life estate seemed great at the time, was not expecting marital problems from my son and his wife. I'm from the old school, married for life better or worse. I now understand a life estate is not the way to go. A revocable living trust seems the way to go Thanks for the information. It's greatly appreciated.