Trust for children involving property

[bammian]

What is the name of your state? ALABAMA My father in law will put the proceeds from the sale of his home into a trust for my children. When he dies will we have to put the house up for sale right away or will my wife and I not have any say at all about the property?

 

[BelizeBreeze]

What is the name of your state? ALABAMA My father in law will put the proceeds from the sale of his home into a trust for my children. When he dies will we have to put the house up for sale right away or will my wife and I not have any say at all about the property?

FIrst of all go back and re-read your post. You are not making sense. If your father-in-law is putting the proceeds from the sale of his home into a trust what is there left of the house to sell?

 

[bammian]

If My Father In Law Wants The Proceeds From The Sale Of His Home To Go Into A Trust For My Children, Who Will Handle That Upon His Death?

 

[BelizeBreeze]

If My Father In Law Wants The Proceeds From The Sale Of His Home To Go Into A Trust For My Children, Who Will Handle That Upon His Death?

And you missed the point entirely. Is your father-in-law planning to sell the house now or force the sale upon his death?

 

[bammian]

upon his death

 

[BelizeBreeze]

FINALLY!!!!!!

O.K. your father can direct the executor of his estate, by testation, to direct the funds from the sale of his home to a trust for the children. You or your wife or the executor or the man in the moon cannot convert the asset to personal use.