San Diego Housing Market News and Analysis
Trust - forced home sale
User Forum Topic
Submitted by Hobie on May 10, 2021 - 4:45am
Most family trusts keep the parents home in the trust and 1 kid is successor trustees and rest of kids equal beneficiaries. Has anyone included a must sell trigger after 1 or more generations?
After your kids become trustees, and they have kids, things start to get complicated as to new crazy spouses and grandkids with regard to selecting future successor trustees.
Stories of the elderly trustee marrying a golddigger who steals everything originally intended for his kids. ( I know this was a fail in the original trust language letting her have complete control, but just use it as an example sceanero)
(I also get this is a good case for irrevocable trust naming grandkids as beneficiaries.)
Would it be prudent to include a must-sell clause when the first successor trustee grows old and needs to select a replacement but instead just triggers a sale of the property?
No family drama.
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