Legal Question in Wills and Trusts in New York

Re: Ownership

You control the disposition through the language of your Will. Simply put, make a decision on how you want the property to pass under the varying circumstances. You can have a deceased child's share pass to his/her children, or just leave it to the surviving children. Traditionally, a deceased child's children take the share of the deceased parent, but this is not law, so you can do it either way.

Re: Ownership

It depends on how you formulate the will or the transfer of deed to the house. It also can depend on whether you have a surviving spouse.

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Re: Ownership

When you die, each of your children gets 1/3 of your house. If two of them die then each has the 1/3 interest which passes to thier their beneficiaries. This could be their spouses or children or whoever is specified in their will. In either case, the beneficiaries of child 1 get 1/3 and the beneficiaries of child 2 get 1/3. The third child still alive retains a 1/3 interest in the house.

Re: Ownership

Each child's Will determines who gets their share.