Legal Question in Wills and Trusts in New York

Re: Minor and adult children

Unless your ex-husband does not want to give the children the assets at age 18, a simple Will containing a provisionn that the younger child does not get his share until age 18 is enough. Depending how much they will get, he might want to consider placing his estate in a trust under his Will, which can defer their getting their share until they are older. If you need more information, contact me directly.

Re: Minor and adult children

This is a difficult time and it is tough to engage in 'financial planning' when more important things are present.

1. Yes, he is 'single' under the law at this time and that means that, unless it is in the dicorce decree, you will not share in his estate as a 'spouse'.

2. The children will inherit his entire estate under the law if he has no will and you, as their mother and custodial parent, will manage the assets until the children reach age 18. As each reaches 18, that child gets his/her own money.

A will can change this arrangement. it can give the children control of their own money at later age or give you a share in the estate.

I think you are looking at a very simple will and an attorney could do the work for a small fee.

Re: Minor and adult children

Since he is not married, he is considered single. A will can be prepared along with specific provisions as to how the assets for the minor child should be handled.

Feel free to contact me if you have additional questions or require further assistance on this matter.

Kind regards,

Peter Moulinos