Legal Question in Wills and Trusts in New York
Contents of home
My husband and I are both on the deed of our home. His will includes myself (50%)and two adult sons from previous marriage(25% each) Do the contents of my home including his personal items(artwork,baseball card collection, jewerly etc.)stay with me, or does he have to add to the will that all contents of home remain intact? He believes only his IRA is to be divided among us.
3 Answers from Attorneys
Re: Contents of home
If the will does not contain language stating all of his personal property is to go to you, he should do a new will. If his will says 50% to you, and 25% to each of his sons, they wach will have the right to have 25% of the contents of the home.
Re: Contents of home
The Will disposes of the items of property owned individually by your husband. From what you say, the contents of the home owned by your husband will be divided 50% to you and 25% to each child.
A well drafted Will would avoid this problem.
The contents of the house which you own individually, of course, remain yours.
Re: Contents of home
The contents of the house constitute personal
property
Personal property passes outside the will
only to the extent it is non-probate assets
These are defined under the EPTL and varies
over time. Basically, it is still one car,
cash to the extent of $ 10,000 and $ 15,000 of
other items. To the extent that the value of
the collections and valuables exceed these amounts
the claim of the surviving spouse to these items
as exempt will be defeated and the will then
controls distribution, or, as presently stands,
divided 50%, 25%, 25%. Clearly, a revision is
in order.
You may call at 1-716-235-2560 to further discuss