First off, I do intend to get professional help with this. My resolution this year, far over due, is to get this stuff under control for the sake of my heirs.
I just called a law firm that specializes in wills and trusts and I've read good yelp reviews and intend to use them. But before I pay for their services I have a question you guys might be able to explain to me:
My wife and I live in California. We have no children. We have a home in both our names. We have a mix of investment accounts, some in both names, some in our own names with the other as beneficiary. We have a couple bank accounts.
If I die first, I want, and assume by law, that everything goes to my wife, and vice versa. We have agreed in a ratio that we want to leave the estate to my brother and his children, and to my sister and to my wife's brother. If I die first and she then owns all the assets I would like to insure that even if she remarries, when she passes away, that the people we agreed upon as heirs, are maintained and that the estate wouldn't go to her husband. (and vice versa -if she dies first, she wants to know that the ratio we agreed upon will go to her brother.) How does that work? Is that sort of inheritance fundamental to a trust or is that something sticky for widows and widowers?
Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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