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Understanding Life Estates

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Question: My wife and I have owned our house for many years. I am several years older and suspect that she will outlive me. I want to make sure that she will be able to stay in the house for the rest of her life, and have heard about a legal concept called “a life estate”. Can you explain how this works?

Answer: This is a complex — obtuse — area of the law, but here’s a general outline.

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JOE KASEL
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Joe@KaselHomes.com

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