[bulldog71]

Louisiana Law. My husband is 62 and I am 58. Second marriages for both of us, I was divorced, he was a widower. We live in the house he built 30 years ago but have completely remodeled since our marriage 11 years ago. I work and our funds are more or less co-mingled. I contributed financially and physically in all aspects of getting his home and surrounding (approx. 5 acres, some of which he inherited from his parents) property in order. (I understand I have no claim on inherited property.) His children are 31 and 35, I have no children. If he were to pass away, I feel that I would be "invited" to leave the house by his children because I have no legal claim on it. Also, would I have to divide our money (2 checking accounts, savings account, mutual funds, 401k) with them? What about our cars, 3 of them, all on his name? What about other things, i.e. boat, tractor, tools, furniture, all bought since we've been married? (Consequently, I had a new car when we married, but traded it in for another.) Can they keep me from re-entering the house after my husband's death? My husband reassures me that none of this will happen but nothing is in writing and I feel that I need to protect myself.

[ebaines]

Please tell us whether your husband has a will, and if so, what does it say? In LA strange things can happen if a person dies intestate.

First let's address the financial accounts. How they pass after death depends on (a) how they are titled, (b) whether there are named beneficiaries, and (c) what the will says. If your checking account is a joint account then the co-owner of the account owns the entire acount upon the death of the other co-owner. Same with the savings accounts and mutual funds. If the accounts are not joint, then they pass to (a) whoever may be named as a benficiary "payable on death, or (b) if no beneficiary is named then whatever the will says. The 401(k) passes to the named beneficiary or beneficiaries, and by law you as the spouse must be at least a 50% beneficiary unless you have signed a waiver.

As for the house and other property - if it's in his name then the will controls who inherits it, and if he has no will then LA's arcane laws give the children ownership. Same with his other property (cars etc). Hence it's vital that you and your husband establish wills and have a good discussion about how property should be handed down. I can understand why his desire may be for his children to ultimately inherit the property, but that could be accomplished in ways that don't necessarily displace you. For example he could set up a life estate that lets you live in the house as long as you properly maintain it, pay the taxes, etc and then his children get it after you die, remarry, or move away. You would have to consult with a lawyer versed in estate planning to make this happen.