House co-owners, separate wills with nolo willmaker

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cruisefan
Posts: 14
Joined: Mon Sep 03, 2018 4:11 pm

House co-owners, separate wills with nolo willmaker

Post by cruisefan » Sun Oct 14, 2018 9:38 am

Hello,
My girlfriend of 35 years and I co-own a house 50/50. Everything else we own separately in individual accounts. We have no children

I just purchased willmaker assuming it would be easy to do wills. She would be my executor with my nephew as secondary. I would be her executor with her brother as her secondary.

Just thought about what would happen with the house if we die at the same time. There would be 2 executors that would each be one of the beneficiaries of their half of the house value. I don't believe there would be any conflict between the two of them in selling.

I was wondering how to best prepare and set this up in willmaker.

Thank you

RudyS
Posts: 1358
Joined: Tue Oct 27, 2015 10:11 am

Re: House co-owners, separate wills with nolo willmaker

Post by RudyS » Sun Oct 14, 2018 3:54 pm

Does Willmaker tell you what to do about the possibility of simultaneous death? I believe (not sure) some jurisdictions provide that one of the pair is presumed to live longer. There used to be a chauvinistic argument. Some wills make a provision for deaths within 30 days to circumvent that issue.

depressed
Posts: 24
Joined: Sun Oct 14, 2018 4:07 pm

Re: House co-owners, separate wills with nolo willmaker

Post by depressed » Sun Oct 14, 2018 4:24 pm

Hello. I am reletively new. Please correct me ane forgive me if I inadvertently misunderstand some forum credo.

I am interested in this question, and would enjoy reading answers. However my main interest is in different but related questions: What happens if I die first, and my partner-in-house dies a year or so later? I suspect that my partner's heir would receive the entire house. So what is the best way to set things up so that when I bite it my partner gets the entire use of the house while he is still alive, but then after he dies the house is split between my other heir and and his?

I have nothing against willmaker software, but I'm not planning to do this with willmaker software. I would just like to have some understanding of the answer before deciding whether to visit a lawyer.

Gracias a todos.

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CAsage
Posts: 954
Joined: Sun Mar 27, 2016 6:25 pm

Re: House co-owners, separate wills with nolo willmaker

Post by CAsage » Sun Oct 14, 2018 4:29 pm

Is it true that regardless of who dies first. your separate halves of the house go to the brother and the nephew? I believe (not a lawyer) that there are common precedents in wills that presume, for near-simultaneous death, who dies first (see Uniform Simultaneous Death). I would suggest naming a third set of executors, especially since your brother is probably about your age.
Salvia Clevelandii "Winifred Gilman" my favorite. YMMV; not a professional advisor.

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