Legal Question in Wills and Trusts in New York
Home ownership after husband is deceased
I have been marred to my husband for 7 yrs and we own a house which is in his name only. If he predeceases me will the house automatically be given over to me. He has 3 grown children and I also have 2. Most of the money came from his first house. I have been living with him for 10 yrs. What are my recourses. All of the other financials I am sole beneficiary. We are both in our early 50's and I dont know what route to take to reslove this. Please let me know what you think is best. Thank you.
3 Answers from Attorneys
Re: Home ownership after husband is deceased
Your situation (second marriages) is unique and you should have the proper estate planning documents in place for each other and for your respective children.
One solution to the house situation is to execute a new deed adding you to title. Another is to execute Living Trusts.
We specilaize in estate planning and will provide a complimentary consultation. Good luck!
Re: Home ownership after husband is deceased
In general terms, if your husband dies with a Will you are entitled to receive what he provides for you, but not less than one third of his estate. If there is no Will, then you receive the first $50,000 of his estate and one half of the excess.
Re: Home ownership after husband is deceased
The house will not be automatically given to you unless he has provided for same in a will.
In order to resolve the issue, you need to be on the deed as a joint tenant with right of survivorship (JTWRS). This is quite simple to do.
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