Anonymous
11/13/2019 20:28
Subject: Do you have a will?
Yes. I have significant familial assets. If I were to die I would like the vast majority of them to go to my children. DH understands.
Anonymous
11/13/2019 20:24
Subject: Do you have a will?
See an international attorney wherever your spouse owns property. The laws in different countries can be very different
Anonymous
11/13/2019 20:07
Subject: Do you have a will?
I have one. Dh’s needs updating. When my dad died, I became co-owner of the family home with my sister. Should something happen to me, my interest in the house reverts to her. She was living there at the time, and I did not want my husband to own part of her home, should something happen to me. It also states who gets the kids if we both die.
You reminded me to pester dh about updating his!
You reminded me to pester dh about updating his!
Anonymous
11/13/2019 20:03
Subject: Do you have a will?
We have an old, outdated will.
We are in process of setting up a trust. Go one step further and do a trust, OP.
Hoping that we will inspire my ILs who insist they will simply have "the kids handle all that stuff" (and it's just DH and his recently divorced sister, embroiled in a custody battle and always skating on the edge of joblessness and financial ruin).
My parents set up a trust and we've already experienced the simplicity and easy transition that occurs with a trust after my parent died.
We are in process of setting up a trust. Go one step further and do a trust, OP.
Hoping that we will inspire my ILs who insist they will simply have "the kids handle all that stuff" (and it's just DH and his recently divorced sister, embroiled in a custody battle and always skating on the edge of joblessness and financial ruin).
My parents set up a trust and we've already experienced the simplicity and easy transition that occurs with a trust after my parent died.
Anonymous
11/13/2019 19:58
Subject: Re:Do you have a will?
Anonymous wrote:In general, you are right OP. If you do not have a will, everything that is owned jointly (bank accounts, property (assuming it's titled as joint tenancy)) automatically goes to the surviving spouse. Assets that are just in the deceased spouse's name get probated. Assuming that you do not have any children from previous marriages, the probate will likely go to the surviving spouse as well.
We do have a will for two reasons: (1) we have children from previous marriages and (2) we do not want the surviving spouse to deal with the probate.
In DC, if either you or the surviving spouse has children from another relationship, then the spouse receives 1/2 of the probated estate and your children get the other half of the probated estate. If all children are from your relationship, the spouse gets 2/3rds of the probated estate (things that are not jointly owned, transfer on death, or named recipient insurance policies) and the children get 1/3rd.
https://code.dccouncil.us/dc/council/code/sections/19-302.html
Go get wills/trusts/powers of attorney done. It will cost around $3000. I used http://wflaw.com/
Anonymous
11/13/2019 19:51
Subject: Do you have a will?
Saying you don't know how to deal with the international assets means you need a lawyer. Pull the bandaid off and start the process. Shouldn't take too long or cost more than a few grand. The lawyer can give advice on what most people in your situation do and the different options. This forum cannot do that.
Anonymous
11/13/2019 19:48
Subject: Re:Do you have a will?
Anonymous wrote:In general, you are right OP. If you do not have a will, everything that is owned jointly (bank accounts, property (assuming it's titled as joint tenancy)) automatically goes to the surviving spouse. Assets that are just in the deceased spouse's name get probated. Assuming that you do not have any children from previous marriages, the probate will likely go to the surviving spouse as well.
We do have a will for two reasons: (1) we have children from previous marriages and (2) we do not want the surviving spouse to deal with the probate.
PP again. Meant to add that another reason for having a will is to deal with the possibility of both of us dying at the same time, since the will specifies a trust, trustees, guardians, etc.
Anonymous
11/13/2019 19:47
Subject: Re:Do you have a will?
In general, you are right OP. If you do not have a will, everything that is owned jointly (bank accounts, property (assuming it's titled as joint tenancy)) automatically goes to the surviving spouse. Assets that are just in the deceased spouse's name get probated. Assuming that you do not have any children from previous marriages, the probate will likely go to the surviving spouse as well.
We do have a will for two reasons: (1) we have children from previous marriages and (2) we do not want the surviving spouse to deal with the probate.
We do have a will for two reasons: (1) we have children from previous marriages and (2) we do not want the surviving spouse to deal with the probate.
Anonymous
11/13/2019 19:42
Subject: Re:Do you have a will?
Yes, of course. After I got pregnant.
And a living will, power of attorney and medical power of attorney.
And a living will, power of attorney and medical power of attorney.
Anonymous
11/13/2019 19:40
Subject: Do you have a will?
We did our will and POAs a year or two after only child was born 18 years ago.
Anonymous
11/13/2019 19:38
Subject: Do you have a will?
Yes. If one dies everything to surviving spouse. If both die assets go to trust for the children. Beneficiary designations are allocated accordingly.
Anonymous
11/13/2019 19:27
Subject: Do you have a will?
Anonymous wrote:How old are you and what does it says?
If one spouse dies without will, does everything jointly owned automatically goes to the surviving spouse? we have little kids involved.
We have been putting off writing a will. Main issue is spouse has some properties/money in Europe and we don't know how to deal with it.
it depends on the state, but dying intestate creates a huge headache for everyone left behind.
https://www.nolo.com/legal-encyclopedia/intestate-succession-the-district-columbia.html
Anonymous
Anonymous
11/13/2019 19:13
Subject: Do you have a will?
No but we need to get one. We have a baby now, we need to have the hard conversations about what happens if we both die. Should probably get a pourover trust too. Ugh.
Any recommendations in DC?
Any recommendations in DC?
Anonymous
11/13/2019 19:09
Subject: Do you have a will?
How old are you and what does it says?
If one spouse dies without will, does everything jointly owned automatically goes to the surviving spouse? we have little kids involved.
We have been putting off writing a will. Main issue is spouse has some properties/money in Europe and we don't know how to deal with it.
If one spouse dies without will, does everything jointly owned automatically goes to the surviving spouse? we have little kids involved.
We have been putting off writing a will. Main issue is spouse has some properties/money in Europe and we don't know how to deal with it.