H and W married 15 years ago and moved into H’s condo in The Villages. Both H & W have adult children from prior marriages. Other than one joint checking account, both keep the assets they owned before their current marriage in their individual names. The title of the home in The Villages is solely in H’s name.
Recently H died. After the Celebration of Life at the Clubhouse, H’s son talked with W. Son has inherited all of his father’s estate. Son’s question to W: “I’m going to sell the condo. How quickly can you move?” He added, “I believe 60 days should be adequate.” W is both bereaved and devastated.
An SRS volunteer spoke with an attorney, who advised that W’s right to continue to live in their home after her husband’s death depends on whether she has acquired a legal interest in it sufficient to avoid a forced sale and eviction. This legal interest will exist if she has a community property interest or if her husband has made some legal provision for her.
Because they were both fully retired when they married, W believes she has no community property interest. She knew that H wanted to preserve his separate property for the eventual benefit of his son. However, she also believes H wanted her to continue to live there until her death.
The attorney explained H could have given W either an “estate for years” or a “life estate” in the condo. If so, W could then continue to reside in the property either for a specified number of years, or for the rest of her life. If after an expiration of time or at her death, H’s son would have full control of the condo. Such a provision must be set up by Deed, by Will, or by a Living Trust.
We suspect there are other Villagers in W’s position. This could be either as a spouse or as a partner. We also suspect that frequently this problem does not happen intentionally, but happens simply because the parties do not think about the potential problem. Don’t let this happen to someone you love.
Another concern is that the document should clearly note who is responsible for the monthly assessments, the condo insurance, the property taxes, and the repairs while the surviving partner lives there. If there is doubt and disagreement, there might soon be an attorney fight—a costly mistake.
To be sure your wishes are legally documented, you should consult an attorney qualified in matters affecting the transfer and inheritance of property. SRS has a list of attorneys who specialize in Estates and Trusts.
SRS Announcement: Medicare and health insurance counseling
Many Villagers have discovered how fortunate we are to have HICAP volunteers to help us get a handle with Medicare.
HICAP (Health Insurance Counseling & Advocacy Program) is a non-profit volunteer-based counseling program to help senior citizens needing education and assistance with the complexities of Medicare. HICAP is organized under the County’s group called Sourcewise, which provides services for seniors and low-income residents. The HICAP volunteers are overseen by paid County employees.
The HICAP counselor assigned to The Villages is Douglas Campbell. Doug’s preference for contact is an email to dcampbell@mysourcewise.com. You can include your Medicare questions in the email. Doug will email or phone you back if the answer is short or arrange a telephone or video counseling session if the subjects are more complex. If you prefer to leave a phone message rather than email, his direct number is 408-610-8059.
Note: The Senior Resource Services (SRS) office hours for drop-in assistance are Monday, Wednesday, and Friday from 10 a.m. to noon. The SRS office is in the Cribari Center across from the Post Office. You may also leave a message at 408-239-5253 or e-mail SRS at villagessrs@sbcglobal.net. The web site is www.thevillagesgcc.com/srs. The purpose of SRS is to provide education and general business and financial information. All assistance is free and confidential. You should ask your professional advisor about your individual situation.
