Legal Question in Wills and Trusts in New York

i have been married for 6 years(this is the 2nd marriage for both os us, he has 2 daughters (20 &21years old, still getting child support), I have 1 son (30 years old). I never had a will, but my husband did after he divorced and his kids were underage, (this will was never terminated nor was a new will ever written). My husband thinks that since my name is on the deed to our house, bank accts., retirement, 501k, etc. that I am protected from his kids taking everything and that the will means nothing because my name is on all these things. I think that since there is an existing will naming them as the beneficaries that they will get everything we have including our house, etc., and I will get nothing since there is no mention of me on the will naming me as the beneficary if something happens. I'm also afraid that if my husband becomes ill that his kids will be able to make his healthcare decisions. Unfortunately due to problems with his xwife, she has controled the kids and made my husbands relationship not so close with them.

Please advise. Thanking you in advance. Sincerely yours, Libby


Asked on 10/06/09, 10:47 am

2 Answers from Attorneys
Anthony Park Anthony S. Park, PLLC

Your husband is correct. You will inherit those assets with no problem so long as: (1) the deed to any property names you as "joint tenant," or "tenants by the entirety"; (2) any accounts are held as "joint accounts," "JTWRS," "ITF, "FBO," "Totten Trust," or some other type of account that transfers to you on his death; and (3) and insurance policy or retirement benefit names you as the beneficiary.

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Answered on 10/11/09, 10:58 am
Walter LeVine Walter D. LeVine, Esq.

I agree with Tony. A Will only acts on assets in an individual name, not assets held jointly with right of survivorship or those with designated beneficiaries, like life insurance or retirement plans. To be sure, I suggest a new Will for your husband, confirming his desires. If he wants to leave his children anything, he can set aside some assets the new Will could cover. If he wants you to get everything, he should say that also. Without this, there could be a Will contest, as the children may make claims (real or not) and tie everything up.

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Answered on 10/11/09, 11:51 am


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