Now, what happens if they do not get along perfectly? What if they disagree on how to maintain or improve the property? What if one of them wants to cash out and the other cannot afford to buy him/her out? What happens at the next generation?
You can see that there are plenty of issues to deal with. There are solutions. You need to discuss with your estate planning attorney or lawyer. It may be that it should not all be handled within a living trust or will.
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