How can we ensure our children inherit after both spouses die?

Full question:

If my husband and I have a will leaving everything that we own to each other, and we both have children form a previous marriage, how can we make sure that the children of the last one of us living will get their portion when we die? Example--My husband dies, I own everything, then I die. Since I owned everything when I died what would assure that his children would get his portion what was left?

Answer:

A mutual will is an agreement between spouses to distribute their property in a specific way. Typically, spouses agree to make reciprocal wills, leaving everything to each other. After the death of one spouse, the surviving spouse is bound by the terms of the mutual will. This means that when the surviving spouse dies, they must distribute their estate according to the will's instructions.

If the will states that all children, including stepchildren, are to receive equal shares, the surviving spouse is legally obligated to follow this distribution plan. This ensures that the children of the deceased spouse will receive their portion when the last spouse passes away.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

A will generally remains valid even if the spouses are separated, unless a divorce has been finalized. In most states, a will executed before separation can still distribute assets as intended. However, if a divorce occurs, many states automatically revoke any provisions in the will that benefit the ex-spouse. It's essential to review and possibly update your will after separation or divorce to reflect your current wishes.