Understanding the Value of Life Estates

Life estates or life interests means that someone gets the use of a piece of property or some monies and investment or something along those lines for their lifetime and then after they pass away, the interest, whatever it was, goes to what is known as the remainder then.

Many issues can arise in the course of a life estate because many years, of course, are involved in the use of it and this video and paper deal with many of those types of issues. A life estate can be created by many different ways such as a will or a trust or a court order or a transfer or an intestacy. As it pertains, it lasts for a lifetime and then ceases to exist. The value of this can be a substantial sum of money. If it’s for example a house, it would be the value of the use of that property such as rent for the whole lifetime of the person or it may not be substantial enough at all depending on the circumstances.

Trevor Todd

Trevor Todd is one of the province’s most esteemed estate litigation lawyers. He has spent more than 40 years helping the disinherited contest wills and transfers – and win. From his Kerrisdale office, which looks more like an eclectic art gallery than a lawyer’s office, Trevor empowers claimants and restores dignity to families across BC. He is a mentor to young entrepreneurs and an art buff who supports starving artists the world over. He has an eye for talent and a heart for giving back.

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