Richard Friesen has earned the designation, Seniors Real Estate Specialist.

1.  An SRES understands the issues facing older adults.   They can help you navigate your choices and may be able to suggest alternatives that help you stay in your home.

2. This specialist understands the demands a sale can make on you, and works hard to minimize them.  Richard will be there when you need him.

3. The Seniors Specialist is interested in looking out for your best interests through all aspects of your transition, not just the sale of your home.

4. A Seniors Specialist can draw on a network of other helpful experts to help you deal with the entire process, from finances to moving.

5. A Seniors Specialist is knowledgeable about senior housing options and can refer you to another Seniors Specialist if you’re moving outside the area. (more…)

A husband creates a life lease for his second wife, allowing her to live in their home as long as she lives. When she dies, the home reverts to the heirs. If she lives the entire rest of her life in that home, no problem. But should she move out of that home, say, to go into a care home, what happens to the family property?
Her children might see this property as a money maker and rent it out, or even live in it themselves.
If the husband has put in the life lease a clause stating that should she move out of the property, then it would revert to the heirs, the problem would have been averted.
When you contact your lawyer to write up this life lease contract, make sure that this potential problem is avoided.