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wife in need of protection

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Tracyp1107

Junior Member
What is the name of your state? Florida

I have a two part question

I have been married four years and my husband was recently diagnosed terminally ill. We own a home together and have about 100,000 in equity. He has suggested that we refinance our home to take 1/2 of the equity out to give to his daughter. I would not be able to manage the bills in his absence with that additional money financed into the mtg. My question is: Can he draw up a will or trust indicating that his share of the equity is to be distributed to his daugther? If so, do I have any legal right to fight that? Second question is: What happens to the bills that are solely in his name that remain outstanding? Do they come out of his proceeds?

thanks!!!
 


H

HomeGuru

Senior Member
Tracyp1107 said:
What is the name of your state? Florida

I have a two part question

I have been married four years and my husband was recently diagnosed terminally ill. We own a home together and have about 100,000 in equity. He has suggested that we refinance our home to take 1/2 of the equity out to give to his daughter. I would not be able to manage the bills in his absence with that additional money financed into the mtg. My question is: Can he draw up a will or trust indicating that his share of the equity is to be distributed to his daugther? If so, do I have any legal right to fight that? Second question is: What happens to the bills that are solely in his name that remain outstanding? Do they come out of his proceeds?

thanks!!!
Click to expand...
**A: you need to consult with an estate attorney.
 
S

seniorjudge

Senior Member
Q: Can he draw up a will or trust indicating that his share of the equity is to be distributed to his daugther?

A: No; when he dies, you automatically get his share of this land (if you are correct in the way the deed is held).


Q: Second question is: What happens to the bills that are solely in his name that remain outstanding? Do they come out of his proceeds?

A: I don't know if FL is community property or not; stand by to see if anyone else knows because I don't know.
 
B

BelizeBreeze

Senior Member
Tracyp1107 said:
the deed is held in both names as husband and wife
Click to expand...
That does NOT answer the question asked.

Now, go back to the deed and print here EXACTLY WORD FOR WORD, the names and any other terms immediately after the names on the deed.
 
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