My living trust specifies that my community sells my unit upon my death
From: Joani Blank (joaniswansway.com)
Date: Wed, 12 Dec 2007 11:24:04 -0800 (PST)
Yesterday I signed an amendment to my living trust incorporating two new sections. One of those sections relates to the disposal of my home in cohousing at the time of my death. (Since I expect/hope to live in cohousing the rest of my life, it actually covers my any cohousing community which I might be a resident owner in at that time). Here's the jist of it:

If my daughter and/or any of her children want to move into my place after my death, they can do so and the unit will not be sold.

If she does not want to move into my place, and the unit is to be sold, I've specified that I want the community (or an individual owner or small group chosen by them) to set the price, show the unit, and select a buyer who, in their estimation, will be the best fit for the group. Costs for any professional real estate services used to complete the sale, would, of course, be covered by the trust, as would any costs incurred involved in advertising the sale. I'm doing this for two reasons: a) So my daughter, the sole trustee in my trust, won't have to manage the sale, and b) So that those living in my community at the time, who know cohousing so well, get to chose their new neighbor(s).

The Homeowners' Association will be paid 1% of the proceeds of the sale for its assistance. Since I have no mortgage on my unit in Swan's Market Cohousing, were I to die tomorrow and the unit were to be sold, the HOA would receive well over $4000. And if the cohousing "movement" is lucky, the person or people who were to buy my place would be as committed to the larger movement as I have been.

I also intend that an amount equivalent to 1% of the proceeds from the sale be donated to the Cohousing Association of the U.S if it is still extant or to another not-for-profit with a similar mission if it is not. And I will so direct the trustee for the charitable portion of my trust (who is not my daughter).

BTW, I'm not planning to die anytime soon. My mom lived to be 90 and my dad, 98.

If you want to ask me questions about this, or chat with me confidentially about your situation, please feel free to write to me off list, or call me at one of the numbers under my signature.


Joani Blank
land line : 510-834-7399 (preferred)
cell: 510-387-1315
Swan's Market Cohousing
Oakland, CA
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