What is the name of your state? California
My 90yr old father just passed away and left his house on 14 acres, another 46 acres, money, cd's, life insurance and ira's and all of his personal belongings, furnishings and effects. My mother passed away several years ago.
I am the trustee, I was givin the 14 acres with the house and personal belongings, furnishings, etc., my brother was given the other 46 acres and $20,000. My father's female companion was given a lifetime estate in the house and we have just found out her name is on all of the insurance policies, cd's and ira's.
She has never lived in my parents house for longer than a week at a time, she has her own residence in another county, which she has not given up. She has stated that she does not want to live in the house and will give up her lifetime estate in it but will not do that until "I get my money". The dispersal of monies could take up to 3 months.
I would like to know what the boundaries of a lifetime estate are, does she have to already live there when the owner passes away, can she decide to live there two years from now, who pays the bills for the home...maintenance and utilities, does she have to make it her permanent home or can it be a weekend home.
We are also persuing the money aspect because that is something completely out of character for my father to have done, he was very sick and somewhat in and out of his faculties the last 6 months or so. We were shocked to hear that his companion suddenly became the owner of several hundred thousands of dollars, most of which had been in my mother's name also, and according to her will should have gone to my brother and I.
Please any advise on the lifetime estate issue would be helpful and appreciated.