Legal Question in Real Estate Law in Missouri
if i put my wife's name on my house,if i would die i could i make sure that my 2 sons each would get one third a piece. could i leave it to to them in my will?
2 Answers from Attorneys
NO, if your wife is name as a joint owner the entire house will pass to her at the time of your death regardless of what your will says. You need to consult an attorney and considering placing the residence in a trust that will hold the house after your death for your wife and that will ultimately pass the house or proceeds to your spouse. Contrary to popular belief, a trust is not an overly expensive document and I can guarantee you will accomplish your objectives without fail and without unnecessary litigation between your spouse and children. Trust me, it is very easy to complete your objectives if you do it the right way. Good luck.
In Missouri you can accomplish your goals concerning the real estate without setting up a trust. You can provide a Beneficiary Deed under which you continue to own the property while you are alive, but upon your death, if you still own the property it can go to whoever you name in such proportions as you desire. There are some other legalities you should talk over with an attorney before you make any decisions. Good luck.