My question involves estate planning in the state of: Ohio
Facts: Lady wants to grant a life estate to her friend after she dies. Once the friend dies she wants the property liquidated and proceeds distributed to three other people.
Question: What is the best way to accomplish this? My thoughts are as follows:
1.) a will directing the executor to act
2.) is it possible to execute a transfer upon death deed that grants a life estate w/remaindermen?
Facts: Lady wants to grant a life estate to her friend after she dies. Once the friend dies she wants the property liquidated and proceeds distributed to three other people.
Question: What is the best way to accomplish this? My thoughts are as follows:
1.) a will directing the executor to act
2.) is it possible to execute a transfer upon death deed that grants a life estate w/remaindermen?
Estate Planning Issues: Life Estate Within a Transfer Upon Death Deed
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