Can You Leave Your Home to More Than One Person #estateplanning #trusts

14 Mar 2023 · 1 min

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0:37

In this short estate‑planning video, Jerry Taylor explains that a property can legally be bequeathed to any number of people, but doing so without careful planning can create family conflict and costly lawsuits. He illustrates the problem with a scenario of three children where two want to sell the house and one wants to keep it, highlighting how differing intentions can lead to disputes after the owner’s death. Taylor’s primary recommendation is to have an open discussion with the intended heirs while the owner is still alive, or to arrange ownership structures in advance, rather than assuming the heirs will resolve issues on their own. He concludes with a call‑to‑action to visit his profile and sign up for his newsletter for more estate‑planning guidance.

Chapters

Can you leave your home to more than one person? The answer to that is yes, you can leave it to as many people as you like, but it may not be a good idea. Let's say you've got 3 kids and you want to leave them your home. First thing you need to consider is how well do these kids get along? If they get along great, it might work out fine. But what if 2 of the kids want to sell it and one wants to keep it? That's the kind of situation that can end in lawsuits. Here's the best option. Sit down and talk this through with your kids. Or you need to do this while you're still alive because it's going to be hard to do it after you're dead. Don't just assume they will work this out. I can tell you from experience, that's assumption. While I've got you here, go to my profile page link and sign up for my newsletter.