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Life Estate

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Roxanne1983

Junior Member
What is the name of your state?What is the name of your state?What is the name of your state? Florida

Hi, I live in Florida and have a dilemma with which I need a little info since my lawyer is out of town for a few days and his assistant won’t answer for him. I am currently battling with my fiancée over a prenuptial that I had drawn up. We have both agreed that in the event of a divorce, he will leave with what he moved in with 3 years ago, his clothes, tools and some of his kids stuff for when they visit. I also waive my rights to his retirement, pension & 401(k). I own my own home & everything in it. All assets & debts will remain separate before & during the marriage. Nothing will be joint, he has a lot of debt & bad credit, I have excellent credit and no debt except for my mortgage. But there is an article in my prenuptial dealing with him waiving his rights to my homestead (my house) and his lawyer wants it out. My lawyer says no, which I agree. In Florida, the law provides that the decedent’s homestead cannot be passed by will to anyone if I’m survived by my spouse.

I want my home to go to my family should I die before him, not to him and when he dies to his heirs. My lawyer said we can remove the waiver of homestead rights and replace it with a “Life Estate” which means he stays in the house for the remainder of his life, but when he dies, it goes to the beneficiaries I designate. It also says that he can’t sell the house. My question is, can I also stipulate that he can’t take a 2nd mortgage on the house, which means he could virtually wipe out the equity in the house before he dies.

Any advice or information would be most appreciated, as I won’t be able to talk to my lawyer until next week and this is eating me up right now and will the rest of the weekend. Thank you.
 



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