will drawn up prior to 2nd marriage

[Loriwalcker]

undefinedWhat is the name of your state? Arizona

My husband drew up his will in 1990 prior to us meeting and marrying. He willed all his belongings to his three adult children. The house we live in now is in both his and my name ( we purchased it in 2002) as is several of our bank accounts.Therefor upon his death will I have to give his children half the money in those accounts and buy them out of his half of our home?

I have looked into a codicil. Would ammending his will protect me? What do you purpose I do?
I am the same age as my husbands adult children and therefor conflicts have arisen. I know atleast his daughter would go after every penny she could get and want it as soon as possible.
I am afraid to invest in any future assests with my husband as I see it as a financial disaster if I have to buy his children out of everything. What gain is that for me?

 

[Indiana Filer]

undefinedWhat is the name of your state? Arizona

My husband drew up his will in 1990 prior to us meeting and marrying.

He can keep his current will as is, leaving his assets to his children or he could have a new will drawn up, leaving his assets to you and/or his children, however he decides.

As for what will happen to jointly owned assets under his current will, that depends on how the items are titled. Are you joint owners with rights of survivorship?

 

[seniorjudge]

Therefor upon his death will I have to give his children half the money in those accounts and buy them out of his half of our home?
Not if those accounts are titled jointly.

I have looked into a codicil. Would ammending his will protect me? What do you purpose I do?
Codicils are (in my opinion) worthless; have a whole new will drawn up, if that is what your husband wants to do.

Y'all need to go to an estate planning attorney now.