I bought my parents house and put them on a life estate. Now I realize that If anything happens to me, my children will responsible to take care of the house as long as my parents are still alive. I don't want that for my children. I talked to my parents, and they do not understand, and will not sign the papers to take the life estate off? What can I do??How to remove my parents life estate on my house I bought?
And when you bought this home were concessions given for the life estate status?How to remove my parents life estate on my house I bought?
then can you rewrite your will to state that ownership of the home will revert back to your parents if you predecease them? That way they will be responsible for the upkeep of the home.
If you have some reason why you don't want your parents to have the home if you are gone, then you may need to take this up with a lawyer to see if there is something else you can do.
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