Legal Question in Wills and Trusts in Texas
Protecting estate from ex wife
My husband and I live in TX. We do not have alot of money, but we do have:
1. Life insurance policy (on husband) with his son as beneficiary
2. Life insurance policy (on husband) with me as beneficiary
3. Life insurance policy (on husband) through his work with me as beneficiary. If I should die before him, then my daughter and his son are 50/50 beneficiaries of this policy.
I need to know how to protect myself. In the near future we would like to have wills written. I am concerned that if my husband would die, that his ex-wife would attempt to come after anything that she can get. In their divorce agreement (NY) there is a paragraph ''Waiver of Estate Rights''. However, it does not specifically state that she could not try to get something on behalf of the child they share. Can she do that, come after anything on behalf of their child even though there is a life insurance policy that will be left to the child?
3 Answers from Attorneys
Re: Protecting estate from ex wife
When your wills are prepared, your husband's will needs to mention his child of the former marriage and if nothing is being left to the child, the will needs to specify this. Otherwise, the child may claim that he/she was "forgotten."
Re: Protecting estate from ex wife
See the probate page on http://www.reasonable-doubt.com
You should have wills made immediately because a child of his outside of your marriage might want some property at his death, and if that child is a minor, the ex-wife would be the one pursuing this matter. Also, the ex-wife would be the one most likely to handle the insurance benefits for that child. Someone should be named as trustee for that child in the insurance policy or the insurance company will most likely require a court established guardianship for the child and that can be expensive and eat away at the money which he wants to go to the child.
Re: Protecting estate from ex wife
Life insurance with a named beneficiary falls without the estate. The ex wife has no claim on those policies.
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