Legal Question in Wills and Trusts in New Jersey

Re: trusts - involving stepchildren

since your name is not going to be placed on the deed (forget about the mortgage) you cannot devise (pass by will ) or otherwise transfer this asset that you do not own. You do however have athe ability to transfer any assets either titled in your name or to which you have an equitable interest to ANYONE you desire either by your will or through trusts in YOUR estate planning

Re: trusts - involving stepchildren

It is very important that both you and your husband work on estate plans. Your husband understandably wants to provide for his children. Nevertheless, your home could be deeded to a trust that provides for a life estate for you as well as other protections for you and the children.

You need an estate and tax attorney that is aware of the tax and planning techniques.

Good luck!

Re: trusts - involving stepchildren

Anytime people re-marry who have children both from a prior marriage and their current marriage estate planning becomes complex and sensitive. Ideally, you and your husband will engage in the planning process together so that each of you may have your desires and fears adequately and appropriately addressed. There are both tax and emotional/psychological consequences of decisions to be made and they should be considered together before determining the most efficacious course of action. I have addressed situations like this many times and have been able to resolve perceived differences to my clients satisfaction. If you wish to discuss this further please call me at (973) 731-5110