Wills, Ex-wife, minor kids

[troup1998]

What is the name of your state? Florida

In the event of my death, my wife and I do not want my ex to take the house that I own(because I have 2 minor children ages 10 and 12). I purchased the house prior to my wife and I getting married last month.

In order to keep the ex from seeking the house(because of minor children) My wife would like to deed the house in both our names. Currently the house is only in my name.

Can I get a will or living trust that would accomplish the same thing?

 

[curb1]

Are you paying child support? Do you have other assets to cover this support if you die?

 

[Zigner]

Ok, I'll bite -
Why would your EX WIFE get the house?

 

[troup1998]

Yes, I pay $650/month. the kids live with me 50% of the time. Yes, I have assets to cover child support after I die. IRA, roths, life insurance, a life insurance annuity as well as equity in the house and some cash

My guess is, or better yet, what I'm being told is that the ex- could claim rights to the house through the minor children.

 

[anteater]

....In order to keep the ex from seeking the house(because of minor children) My wife would like to deed the house in both our names. Currently the house is only in my name.

Can I get a will or living trust that would accomplish the same thing?

Any of those should work. Maybe you want to consult with an estate planning attorney to determine what works best in your particular situation.

 

[troup1998]

Thank you for your replies

 

[nextwife]

It's also not a bad idea for your wife to carry a policy that she owns against your life (and the reverse for you). Your ex cannot successfully go after HER policy that she bought and paid for.

 

[anteater]

.....
My guess is, or better yet, what I'm being told is that the ex- could claim rights to the house through the minor children.

By the way, if you were to die without a will, your surviving spouse would be entitled to 50% of your solely owned property - property that is not owned jointly with right of survivorship, or has a designated beneficiary, or that is in a trust. Your children would split the other half.

While it would be likely that your ex would be the guardian of your children's property until they reach the age of majority, the ex cannot "claim rights" to the property.

 

[garrula lingua]

In CA, if I'm not mistaken (?), if there is more than one child of a different parent, then Mom gets one-third and the kids split the remaining two-thirds of separate property.

 

[anteater]

In CA, if I'm not mistaken (?), if there is more than one child of a different parent, then Mom gets one-third and the kids split the remaining two-thirds of separate property.

Yes, but the Op said Florida. What the heck, they both have palm trees.

 

[garrula lingua]

I need some coffee ...
Sorry about that.

 

[Just Blue]

unfortunately, my wife of 1 month has put an ultimatum to me.

If I don't put her on the deed as 50% owner of the property she's going to leave. she's telling me she will pack up her stuff today.

As I see it, If I put her on the deed and she decides divorce me or later on "leave again" she has legal right to 50% of the equity in the house, approximately $350-400K.

I got a problem with this. Should I? as I see it, if she puts one ultimatum on me, she'll do another. And the next one will most definitely be losing our home, because I can't afford to pay her 1/2 of $400K. I already had to re-buy the house when I got divorced and paid the ex $315K in 2004.

It just doesn't smell good for me? You agree?



I've offered living trusts, wills, a right to survivorship deed, but she doesn't want any of that. She only wants her name on 50% ownership of the deed. ..and she's quite upset over this too.

Call her bluff. Let her leave. Really...Is this a woman you want to spend the rest of your life with? One that plays this kind of game?? Divorce now and she won't get squat.

 

[garrula lingua]

Run to the nearest family law court and file for divorce.

This is not someone who will be there 'in sickness and in health, etc'.
This is a gold-digger, a taker.
Run.

 

[nextwife]

Run to the nearest family law court and file for divorce.

This is not someone who will be there 'in sickness and in health, etc'.
This is a gold-digger, a taker.
Run.

Frankly, I agree 100%.

The only exception would be if she expects to be on title to YOUR house because she sold her house and is investing the proceeds into your house.

My husband never demanded such a thing when we got married. That is a lot of chutzpah!