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What Is Included With A Life Estate?

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  • 05-27-2008, 06:48 AM
    mrbill
    What Is Included With A Life Estate?
    My question involves real estate located in the State of: Michigan

    My Mom is granting a life estate to her husband. As the executor to her will, do I have the right to remove and sell the furnishings and personal posessions in the house, or do they stay as part of the estate? Same question regarding boats, cars, bank accounts held in common, etc.

    If her husband elects to not live there, what is the proper (and easiest) way to have him give up his life estate? I believe he will go live with his daughter in anopther state.

    Thanks in advance!
  • 05-27-2008, 07:19 AM
    Mr. Knowitall
    Re: What Is Included With A Life Estate?
    Your duty as executor of her will is to carry out her bequests as stated in her will. We haven't seen her will.
  • 05-27-2008, 08:16 AM
    mrbill
    Re: What Is Included With A Life Estate?
    well, as the PR, I am to sell or dispose of her personal property at public or private sale; split with siblings in equal shares, etc. Standard 2 page will. (With the exception of the life estate granted to her husband). I ma not sure what else you may be looking for?
  • 07-28-2008, 10:57 AM
    mmmagique
    Re: What Is Included With A Life Estate?
    If you are executor it is up to you to learn the law in regards to this. You shouldn't do anything at all until you talk to an atty who can guide you through this.

    I would guess, (and it's only a guess) that a life estate means that it is his to live in (or not) for the rest of his life. You should think about how your mother would want you to proceed. (it doesn't sound like you have her wishes in mind...)

    (I revived this thread after reading another post OP made about his step-father, sorry if that is a problem. This just seemed a more appropriate place to respond to his questions.)

    ~Christina
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