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Child's inheritance

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Sandra Macon

Junior Member
What is the name of your state? Alabama

I have 2 children, one from my first marriage and one from my second. I am currently married to my second husband, but my second husband never adopted my first child from my first marriage. As is the case with most couples, all properties, money accounts, etc. are set up with my husband as the beneficiary (in the event of my death) and me as the beneficiary (in the event of his death). As I understand this, should I die first, my retirement accounts will become his as will the title of the house become his alone. If there is no will in place when my husband dies, does everything automatically become the property of my second child (his son) leaving my first child without any inheritance?
 


Just Blue

Just Blue

Senior Member
Sandra Macon said:
What is the name of your state? Alabama

I have 2 children, one from my first marriage and one from my second. I am currently married to my second husband, but my second husband never adopted my first child from my first marriage. As is the case with most couples, all properties, money accounts, etc. are set up with my husband as the beneficiary (in the event of my death) and me as the beneficiary (in the event of his death). As I understand this, should I die first, my retirement accounts will become his as will the title of the house become his alone. If there is no will in place when my husband dies, does everything automatically become the property of my second child (his son) leaving my first child without any inheritance?
Click to expand...
Yup. I suggest you make special provisions for your children if you wish for them to have something.
 
C

curb1

Senior Member
Sandra Macon,

You point out the prudence of preplanning. Too many people wait until after death to sort these things (too late). The children of first marriages (when additional marriages) are getting "shorted" in many inheritance situations. Their fate is often decided by who is first to die. Not proper and not expected in many cases.
 
C

candg918

Member
You and your DH need to see an attorney with a specialty in estate planning. The attorney should be able to recommend ways to give your spouse access to your estate funds while preserving the rights of both children to inherit what remains from your estate upon his death.

I have found this reference to be an easy to read introduction to estate planning issues.

http://www.abanet.org/rppt/public/home.html#one

One quirk that I found to be confusing is that you do need to be aware that retirement accounts may require a spouse sign off if someone other than the spouse is the beneficiary of the account.
 
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