Sunday, January 8, 2012

My friend and her husband bought a house (land contract)..but he put it in the name of a trust?

At first he had only his name, then when she read over it she told him to add her name..mind you they are married with kids...rekindling the marriage. When he changed it, he told her that he was putting it in the name of a TRUST, that way if anything ever happen to them the kids will get the house and don't have to pay a death tax. I thought that's whata WILL is for? She think he has something up his sleeve as to why he don't want her name on it..so to avoid it all he just put it in the name of a trust. If they ever divorced who does the House goes to? Why would a husband not want his wife name on the contract? She does not know much about Trust and neither do I...but it just raises some red flags!!

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