My question involves estate planning in the state of:
My father in law bought the property in question about 30 years ago. He re married his current wife about 20 years ago. She has 2 children and my father in law has 2 children. About 3 year ago they sold there primary residence and remodeled the house on this property and moved into it. Unfortunetly about 1 year ago she developed terminal cancer and probably will not live another 6 months at this point.
The property in question is in my father in laws name on the deed, but her names is on the remodel loan.
She wants to see a lawyer and set it up so her children get have the estate.
Can she do this with or without my father in laws conscent?
If they do something like this, could my father in law still sell the property to my wife and I or someone else if he wants to prior to his death?
ONce she does die, can my father in law just change what ever back to what he wants?
Right now, he just wants to make her happy and not cause any problems, but he really wants my wife and I to have the property. What are some options?
by the way this is in Nebraska if that matters.