settling estates without a will
I am married and my husband has 4 adult children from a previous marriage. I also have 1 minor child from a previous marriage and my husband has adopted her. We also have 1 minor child together. My husband is 28 years my senior so it is possible he will pass away before I do. All of our accounts and property, with the exception of our primary farmhouse and land, are joint. If there is no standing will, at the time of his death, where will the property, accounts, life insurance go?
1 Answer from Attorneys
Re: settling estates without a will
If by using the word "joint" you mean that all property is held "as joint tenants with rights of survivorship" then on the death of the first joint tenant the property will pass to the survivor, regardless of what the deceased's will might say. However, just because both names may be on a particular piece of property, the named persons may not be "joint tenants with rights of survivorship" if those words donot appear in the documentation of ownership You should have an attorney look at the papers.