Can I put 2 minor children in a trust of our home?

[formerlsa]

What is the name of your state? MA

Hello. I am divorced and I am the only one on the deed and mortgage of my home. I do not have a will yet. I have 2 questions. Can you make a will over the internet like Build a will.com? Is this legal? The other question is this. My children are 14 and 9. Should I be putting the home in trust for them and is this possible? I am just wondering what steps to take.I already have my X on my savings account in trust for him in case of death. My X would have to raise them and he has judgements against him for a repo so I do not want to get him involved but I want to make sure my children will get something to live on if I should die, there is alot of equity. Any advice? Thank you in advance

 

[Turkish Gold]

Suggestion

My daughter -n- law is going through a very bad situation with a trust. Now this is just my opinion and to give you ideas. A trust is a paying job for someone to oversee someone else's money and property. They have sole authority even though the owner of the money and property actually belong to the beneficiary which would be your children. From what I have witness my daughter -n- law go through and talking to other people and reading posts from this web site. A trust is nothing more than a legal document for a trustee to steal from the beneficary. There is not much accountablity even though there are strick laws the trustee of the trust is sole authority and the beneficiary has no authory, power or control.

My suggestion to you is take your X off the savings and put everything in your children's names. Since your children are getting older this would be a great time to teach them financial responsiblity. There is a FINANCIAL PEACE UNIVERSITY course
A 9-week (13 lessons) video course featuring nationally-syndicated radio host and author Dave Ramsey. Sessions include information on how to create and live on a budget, reduce debt, and invest for your future in an environment of accountability coupled with hands-on application. Many family take this course together.

Don't put all your eggs in one basket. Gain wisdom and knowledge and DON'T BE AFRAID.

 

[BlondiePB]

What is the name of your state? MA

Hello. I am divorced and I am the only one on the deed and mortgage of my home. I do not have a will yet. I have 2 questions. Can you make a will over the internet like Build a will.com? Is this legal? The other question is this. My children are 14 and 9. Should I be putting the home in trust for them and is this possible? I am just wondering what steps to take.I already have my X on my savings account in trust for him in case of death. My X would have to raise them and he has judgements against him for a repo so I do not want to get him involved but I want to make sure my children will get something to live on if I should die, there is alot of equity. Any advice? Thank you in advance

Remove your ex as the beneficiary. Never have a person who has debt/credit/judgements/bankrupcy entrusted with money & property. When minor children are beneficiaries of an estate, etc., that property will be placed in trust and/or under guardianship for them by the court, should you not put your property in trust for them. The most important thing is who you nominate as a trustee (yourself first for revocable trust) and a successor trustee.

Please invest in an estate attorney to do your estate documents. Also inquire about a testamentary trust (making the trustee file an annual accounting with the court) and a stand-by guardian for your minor children.