Legal Question in Real Estate Law in Michigan
property
I have been married for 2 years.
I have put my husband on all of my accounts (inc-retirement.checking, savings , life insurance). He said I do not need to be put on house deed-he owns our house with his son as co-owner, same with all his cking and svgs accts, retirement etc. He said if something happens to him that because of ''dower rights'' I will automatically own the property. We have no will. Is this correct
Thank you
Thank you-
1 Answer from Attorneys
Re: property
No, that is absolutely not correct. The way the property is deeded right now, you would be entitled to one-third of one-half upon the death of your husband. Your interest would be a life estate, so you would not be able to pass your interest to your heirs upon your death. As far as the bank accounts go, if there is a joint account holder, the monies would go to that person or would have to be probated if it is a sole owner account. Retirement accounts have beneficiaries, so the beneficiary will get the proceeds. If there is no beneficiary, it will need to go through probate. The surviving spouse gets a lump-sum right off the top. Your husband is either uninformed or is unwilling to discuss his true intentions with you.
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