Legal Question in Wills and Trusts in Ohio

Rights of Spouse

I am interested in buying a rental peice of property with monies received from my mother's estate. I will put the property in my name but since I am married what can I do to protect this property if I should divorce. Also my husband has children and if he should passaway I do not want this property to be involved in his estate. How do I protect myself?


Asked on 12/14/05, 11:18 am

1 Answer from Attorneys

Re: Rights of Spouse

If there is no mortgage (paying cash for property) you could buy it in the name of a limited liability company. Then have your unit certificate payable on death to your beneficiaries. If you take title to the property in your individual name, your husband will have to sign off on the deed to transfer it. The value is going to be included in your estate so make sure you leave your husband enough to pay the estate tax on the property, if any.

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Answered on 12/14/05, 5:43 pm


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