Legal Question in Wills and Trusts in Mississippi

Re: married & husband has personal property by quitclaim deed...we want to guara

Your husband during his lifetime can convey all his interests or a remainder interest in the property to you. He can transfer the property to you and him as joint tenants so the survivor gets the property by operation of law. He can transfer it to another entity such as a trust or corporation in which you have the beneficial interest. He can also transfer it by his last Will and Testament. Since there are children, he needs to make a will anyway so that is probably the least expensive way of doing things for the short term. The survivor of the marriage might also avoid probate if the property is in a joint ownership so that option may be helpful in the long run. In any case, you will not be liable for the mortgage unless you also sign the mortgage promissory note. To keep the property from being sold to satisfy any remaining balance of the mortgage, you should consider purchasing life insurance that can be used to pay the debt.