Jerry Taylor explains why a widow shouldn't rely on her second husband to protect her house for her son. He recommends a revocable living trust that lets the husband live there for life, then automatically passes the home to the son, avoiding divorce or creditor claims.
Absolutely not. Do not do this. Look, I'm sure your second husband is a great guy. But if you own this home outright and you want to make sure that it gets to your son, this is a terrible idea. If you were to die first, there is no way to know what will happen after you're gone. He could get married and divorced. And if he owns the house at that point, it's caught up in the divorce and his ex-wife could get a big share of it. He could get into financial difficulties and lose the home, or he might even get sued in a lawsuit. There is a long list of things that could happen that would jeopardize the passage of that home to your son. And let me just say right here, if you want to work with me or you want my newsletter, click into my bio link. The safest thing to do is to put that home in a trust, giving him the right to live in it for his lifetime, and when he passes away, then it goes directly to your son. Don't count on your second husband doing the right thing by your son, because it rarely works out that way.
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