How many are there in the 2nd and 3rd marriages? Raise your hands. How many of you who raise your hands agree to give your spouse the right to occupy your separate house or half of your common property after you die? Ok, how many of you have included such a provision in your Living Trust? As I suspected, not as much. Ok, for those who have included such a provision in your Living Trust, as many of you have indicated whether the surviving spouse or trustee of the Living Trust should be responsible for the following: A participation in life could also be left as an investment, for example to provide income for your spouse`s life. In the course of my deliberations, I would like to clarify whether we include a Life Estate or an Occupancy Right. I would like to know who is responsible for what expenditure and for what period. The executor argued that the will would entitle the daughter and son of the deceased to a personal right of residence in the property (a “right to occupation”), while the public agent claimed that the daughter and son had a just estate in the property (a “life interest”). A lifetime allows the surviving spouse or any other designated beneficiary to benefit from his or her domicile and/or the benefits of his or her entire life, where a right of occupation may end, if the surviving spouse or beneficiary permanently leaves the home and settles elsewhere. This form of ownership ensures that they cannot be forced to move out of their home. The restorer man cannot live in the property during the occupation of the house by the tenant, unless he agrees beforehand.
During the occupancy of the house, the occupant pays all property taxes and maintenance costs on the house. Finally, a Life Estate creates the certainty that the tenant of life can live in the house for the rest of his life. This security is an additional advantage. California law is unclear on these issues of occupancy rights if the Living Trust were to shut up.