Ok, here is my offer.
I would like to make an offer that will enhance mom’s psychological well being, and caretaking, and also generate a net gain in the estate that would benefit for all the other heirs.
As you know, our father wanted to keep his home in the family, and had planned to change the Living Trust accordingly so that my family could live in his home. However, since this change was not done prior to his accident, you are to inherit our parents home and plan to eventually sell the home.
I believe that the following offer provides a sensible and favorable solution for everyone concerned.
We had been talking to dad about obtaining a larger home so that all the boys would have a place to live. Since I will apparently not be able to inherit my parents home, I would like to obtain an early distribution of our home from the Exemption Trust in order to be able to exchange our home for a home of approximately the same value, with 2 more bedrooms, which would be located closer to mom. The homes closer to mom are substantially less expensive then those where we live, thus, an even exchange of our small home for a home that has enough bedrooms to accommodate our large family is possible. This would accomplish the following:
1) Provide the two adult children living with mom the certainty that they have a place to live in the foreseeable future, since there is no real property provision for them in the Living Trust. I believe it is in the best interest for mom’s psychological health not to have worry about what is going to happen to her grandchildren. In addition, without this certainty, the psychological well being of the two adult children might be affected, which could generate a negative unconscious influence over time, that could impact on the quality of caretaking that they are currently providing for mom.
2) The two adult children would then be able to move their personal belonging (and other furniture that might be given to them) to the new house. I would also be able to move my large arbor and other items that are stored in at my parents’ house. Thus, if and when our parents’ home is to be shown to perspective buyers, the upstairs would be clean and appear more spacious, perhaps generating higher offers.
3) Since I have been unable to drive due to my recent heart attack and other physical problems, and am dependent upon my husband to drive, living in a home closer to Mom would make it easier for my husband and I, and our two other adult children living with me, to visit mom more often. The more often that family members can visit mom, the better for her psychological well being / health. &...
4) If the proceeds from the sale of our home is not enough to cover the cost of the new home and a small mortgage is required, I would like to also receive an early distribution of some of the rental income from the apartments that I will inherit, or obtain a loan from the estate that provides monthly stipend to pay the mortgage. Since the apartment rental income is currently an income producing asset for the estate, I would, of course, refund the estate the amount of money that I would have been earned had the rental income been earning money market rates, plus, I would pay interest and money market rates, thus, providing a net gain for the estate. These payments would start and be paid to the estate when I start receiving the the rest of rental income from the apartments when it is distributed to me.
Again, the above would insure that mom’s psychological well being, health and caretaking would be enhanced, and the estate would generate a net gain for the benefit for all the other heirs. I would like to start packing and looking for another home, as soon as possible. Please advise if the above is acceptable, and if not, the reason.