Living will misc questions

[gerard2006]

Folks

Me and spouse are creating separate wills as advised by law. We are also joint owners of our property. Question is - if I am specifying my brother in my will to receive property if I and wife + kids are both decreased and she's doing the same in her will but for her brother, what is the result?

Also is it possible to file a will in a court in NY? If not, where should we store it or should we share a
copy with executor?

Lastyl willmaker plus seems to suggest that life insurance payouts can have a guardian only till 18 while I'd like the guardian to serve till age 25 when kids are more mature

Thanks

 

[justblue]

Folks

Me and spouse are creating separate wills as advised by law. We are also joint owners of our property. Question is - if I am specifying my brother in my will to receive property if I and wife + kids are both decreased and she's doing the same in her will but for her brother, what is the result?

Also is it possible to file a will in a court in NY? If not, where should we store it or should we share a
copy with executor?

Lastyl willmaker plus seems to suggest that life insurance payouts can have a guardian only till 18 while I'd like the guardian to serve till age 25 when kids are more mature

Thanks

Are you actually in NY?

 

[army judge]

Also is it possible to file a will in a court in NY? If not, where should we store it or should we share a
copy with executor?

Lastyl willmaker plus seems to suggest that life insurance payouts can have a guardian only till 18 while I'd like the guardian to serve till age 25 when kids are more mature

Do you really want strangers to provide you with answers to questions of momentous import to you (and your proposed heirs)?

You might wish to consider discussing these important life matters with an attorney who specializes in estate planning and/or wills.

 

[gerard2006]

Yes to both questions

 

[army judge]

Yes to both questions

Just hang on, you'll be flooded with responses from several strangers sooner or later.

 

[Zigner]

Yes to both questions

You missed Army Judge's subtle...phrasing.

You NEED an attorney. This is not a project to leave up to a bunch of random internet strangers.

 

[zddoodah]

Question is - if I am specifying my brother in my will to receive property if I and wife + kids are both decreased and she's doing the same in her will but for her brother, what is the result?

This question is very poorly written and, as a result, makes relatively little sense. If this post is an indication of your writing ability, then I suggest you not write your own will and, instead, engage the services of an attorney. I say this not to insult you but because, if your will is unintelligible, it might not function as you wish.

As best I can understand this question, you're asking whether you can leave your property to your brother if your wife and children predecease you. If that's what you're asking, the answer is yes.

Also is it possible to file a will in a court in NY?

Sure, but for what purpose do you want to file it with a court?

If not, where should we store it or should we share a
copy with executor?

I can think of no good reason not to give your nominated executor a copy of your will. The original will can be stored anywhere you like. However, if you store it in a safe or safety deposit box, make sure that whoever needs to get the will after you die has the ability to access it.

Lastyl willmaker plus seems to suggest that life insurance payouts can have a guardian only till 18 while I'd like the guardian to serve till age 25 when kids are more mature

Ok.

 

[gerard2006]

Great answers. Thank you! Let me re-phrase my first question

Me and spouse are creating separate wills and we are joint owners of the only property we own today

My will - if my wife and our kids are deceased with me, my brother is slated to get the property
Wife's will - if I and our kids are deceased with her, her brother is slated to get the property

Is the above a conflict and do we have to think about possibly including both the brothers in each will with a 50/50 share?

Thanks

 

[Zigner]

I'm very sorry and I would like to take a moment to apologize for the ambiguity in the above answers. It was obviously unclear. Let me distill this down to the most appropriate advice:

TALK TO AN ATTORNEY

Thank you for your patience and I wish you well.

 

[zddoodah]

Me and spouse are creating separate wills and we are joint owners of the only property we own today

When you say "the only property we own today," I assume you're talking only about real property (i.e., real estate). I'm sure you own property other than real estate (e.g., bank accounts, furnishings, jewelry, etc.). Correct?

My will - if my wife and our kids are deceased with me, my brother is slated to get the property

What does "are deceased with me" mean? It sounds like you're contemplating a situation where all of you die more or less simultaneously. I hope it goes without saying that would be quite unusual and isn't something that folks typically plan for in a will. Rather, what typically happens is something like the following: "When I die, my wife should receive my entire estate. If my wife predeceases me, then my children should receive my entire estate. If my wife and all of my children predecease me, then my brother should receive my entire estate." As far as I know, every state has a law that deals with simultaneous death, and some folks specifically say something in their wills like the following: "If my wife does not survive me by at least 30 days, then, for purposes of this will, she should be regarded as having predeceased me."

Is the above a conflict

No. You might end up with a situation in which her brother and your brother jointly own the real property, but that seems fairly unlikely and would only happen if both of you and your kids are all dead.

do we have to think about possibly including both the brothers in each will with a 50/50 share?

No.

 

[gerard2006]

That's all I need. Perfect and thank you !