Legal Question in Real Estate Law in New York
I'm married and we have a 4yr old daughter with my wife.She has 3 adult,married children ,from a previous marriage. we are planing to buy a house, to live in(me,my wife and our daughter).My question is ,in case something happens to us,is the house devided to 4,can her kids from the previous marriage inherit the house or only it goes to our daughter.Is there a way that the deed is written that nobody else can inherit except our minor daughter.Also we dont have a will yet.Thank you
1 Answer from Attorneys
The only way to insure your daughter receives the house is to establish a trust and deed the house to the trust. The trust instrument would set forth who gets the house and any other assets made part of the trust.
Otherwise with joint ownership, if you die first, your wife gets the house, and upon her death, all her children inherit.
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