At Lewis Family Camp, we held a meeting with the second generation to try to make sure that they were informed and supportive about terms of my estate, particularly regarding my will, the Lewis Family Trust, and some elements of the Nathan Lewis Disability Trust. The last thing that I would want is for there to be squabbles and resentment over inheritance money. The discussion was positve and supportive, but there was one area about which I felt a need for input. This was about a feature of the will and the Lewis Family trust which our estate lawyer had recommended in 2008 regarding housing for Wendy if I should precede her in death, in which the trust would maintain ownership of the Spanish Fork house, but Wendy would be allowed to occupy the house as long as she desired by paying taxes and insurance. I was troubled by this feature because it seemed to not account for maintenance costs and seemed odd that Wendy would be required to cover some other expenses for the house. It might require the estate administrator and trustee to be involved with Wendy for many years and have potential for causing relationship strains and problems. While trying to provide security for Wendy, it also did not take into account that in the future she might not want to stay in Spanish Fork or that she might need a different type of housing.
As we pondered these issues, as I recall, Angela spoke up and said, “Why don’t we just let Wendy have the house? Everyone nodded and seemed in agreement with this simple solution. I took the time after Family Camp to visit individually with each family member to make sure that someone had not developed reservations about this change, but everyone still gave their full support.
So recently Wendy and I completed this change of ownership of the house, into the standard husband- and-wife arrangement of “joint tenancy, with rights of survival.”
In the process, I was blessed with a profound sense of gratitude for the willingness of my children to make what might be a future sacrifice. I felt a great pride in having raised children who had these types of values. Thank you all.
