Who will get my houses?

What is the name of your state (only U.S. law)? California

I have bought two houses in CA in the last two years, and my partner has remodeled them both. He is not on either of the mortgages, due mostly to the fact that my credit is great and his is not.

I'm giving some thought to getting a will set up, so that my assets will be fairly distributed among my 4 grown children. I want my partner to get something out of these homes (since he did all the work) if I am to die unexpectedly. What are my options?

bertscla said:

What is the name of your state (only U.S. law)? California

I have bought two houses in CA in the last two years, and my partner has remodeled them both. He is not on either of the mortgages, due mostly to the fact that my credit is great and his is not.

I'm giving some thought to getting a will set up, so that my assets will be fairly distributed among my 4 grown children. I want my partner to get something out of these homes (since he did all the work) if I am to die unexpectedly. What are my options?

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Some options that could be addressed through your will, when you have your attorney draft it:

A. A life insurance policy naming him as beneficiary, sufficient to obtain other housing.

B. A life estate to remain in one of the homes until death, with the property then going to your kids.

C. Bequeath some amount from your estate as compensation for all the work.

D. leave him a house, leave your kids the other house.

I'm sure there are other options, but the above are some ways it could be handled.

What do YOU want for your partner?