CA Living Will; how to set up trust to sell assets at a later date?
I have Quicken WillMaker Plus and I
want to write wills for my wife and I
and I want to put our house in a
trust. That would be done ok
except for this complication. If she
dies first the house will be split up.
She wants me to get ¼, her son to
get ¼ and two close friend to get
the other half. I’m OK with that. We
agree that if she were to die soon,
and she is ill, then she wants the
house to be unsold for about 6
years and sold at my discretion
when the market is better. Then I
will sell the house and split up the
money. What way does the trust
have to be written to have that
done so I can give my step son his
money at a later time. He is having
a little gambling problem now, but
my wife thinks that 5 years or so
should be enough to have him get
over his problems or give it to him
anyway. And there will be a little
incentive for him to show me some
responsibility.
Thanks.
Michael