Minnesota | Family Law
Legal Question
marriage
I am a divorced woman with three grown children. I own my home (and have a mortgage) and plan to remarry. My future spouse and I have lived together in this residence, 6381 Maple Rd, Mound, Mn. 55364 since August 1998. Will my house remain in my name after marriage or will it be considered joint property? My concern is: What will happen to this house if my spouse should require a nursing home? My future spouse has made me the beneficiary of his ''adjustable life insurance policy'' in the amount of $97,000. I have approximately $18,000. in life insurance of which he is 50% beneficiary with the remainder going to my children. My future spouse had invested approx. $35,000. in repairs to my home upon moving in and has put all his income into the expenses of the home. In other words, we have been living as if married. Neither of us have retirement income, savings or other assets. We barely make ends meet on our income. We have a home business(product development/design)and are equal partners. Most of our business income has been lost due to out sourcing. We are earning about $11,000. in royalties yearly from the business, and must hold down full time retail jobs. How can I leave my house,or part of it, to my kids?
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Read More Answered By: David Kelly-952-544-6356 |
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