H
hdlover
Guest
What is the name of your state? What is the name of your state? What is the name of your state? Illinois
My partner and I have been together for 10 years. We bought property together, each paid half, but my parnter would not invest any more money into the property without having control of the property. My partner has 2 children from 2 previous relationships and I have 1 from a previous relationship. My partner sold their home and property to move to our new home. My partner did not think it would be fair to invest all of the money from the sale of the previous home and if something happened, the children would only be entitled to half of the value of the new property. So, we put the property into my partner's living trust in which I am entitled to 1/3 of the value of the property, with the option of continuing to live there and paying my partner's children their share of the value. Have I made a big mistake by allowing the property to be put into my partner's trust?
My partner and I have been together for 10 years. We bought property together, each paid half, but my parnter would not invest any more money into the property without having control of the property. My partner has 2 children from 2 previous relationships and I have 1 from a previous relationship. My partner sold their home and property to move to our new home. My partner did not think it would be fair to invest all of the money from the sale of the previous home and if something happened, the children would only be entitled to half of the value of the new property. So, we put the property into my partner's living trust in which I am entitled to 1/3 of the value of the property, with the option of continuing to live there and paying my partner's children their share of the value. Have I made a big mistake by allowing the property to be put into my partner's trust?