Legal Question in Wills and Trusts in Missouri
My rights as His wife
Myhusband of 12 years might have lung cancer.He bought this house while we were living together.My name is not on the deed or several of the cars we own.He is planning to leave it to me.The bank and lience bureau want to much to go that route.What would you we need to do.A will or living trust
2 Answers from Attorneys
Re: My rights as His wife
This cannot be answered simply. Either a will or a Living Trust would work, and beneficiary designation changes would as well. What is best depends on what is most important to you and your husband, as well as the values of the properties and your family situation. I strongly suggest that you and your husband promptly contact an attorney to discuss this further.
Re: My rights as His wife
Your husband may be able to prepare a Beneficiary Deed to transfer the real estate to you upon his death. He might also be able to add a "T.O.D." ("transfer on death") clause to the titles on the cars. He may also want to have a Will, and depending upon the amount of assets owned, he may even want to set up a trust. He definitley needs to do a Durable General Power of Attorney and probably also a health Care directive and Power of Attorney for Health Care Decisions. I would certainly advise you or him to consult with an attorney.