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Fred Mertz

Tricky Colorado Trust

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Can a man place a Colorado residence shared with his sick wife into a trust he’s sole beneficiary of?

This woman is a recovering stroke victim and a real estate investor who seems mentally competent

but speaks & writes with difficulty, so her husband has legal & medical power of attorney for her.

 

 

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The details count. What do you mean by "shared"? Do they both own the residence, or does he own the residence by himself but they both live there? Why is he the only beneficiary of the trust? Has she agreed to the transfer?

 

In general if she has some legal interest in the residence and he uses his power of attorney to effectively transfer that interest to himself without her knowledge and consent then that self-dealing will create a presumption of a conflict of interest and expose him to possible breach of fiduciary claims. This is something he'd really want to get advice from a Colorado attorney before he does it. 

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23 hours ago, Fred Mertz said:

Can a man place a Colorado residence shared with his sick wife into a trust he’s sole beneficiary of?

 

He can transfer his interest in the property into the trust.

 

Not really sure if you're asking anything more than that.  Does the person in question have a lawyer?

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