i own my house with my sister in law. my husband is not on the mortgage. she does not have a will. if i die before them, how can i make sure my children inherit the property?
Answer
How is the house titled on the deed? Were you married when you bought the house? Does anybody have a will?
John
Answer
Have an attorney review the documents including those John mentioned. If it is important to you then it is worth the attorney fee to be sure you understand.
Answer
The most important question is the one you do not answer. Look at the deed under the heading "grantees". How are you and your sister listed?
If you are listed as you and sister, as joint tenants with right of survivorship (and these magic words must be there) then the property will automatically pass to the survivor and there is nothing you can do about it unless you change the deed.
If there are no magic words and you and your sister are listed as grantees, then you are both tenants in common. What this means is that if either one you dies first, the survivor will still keep their 50% of the property but the other 50% will go to the estate of the survivor. If your sister dies first, then the land will pass to her spouse and/or children, if any. If she is single with no kids then to your parents but if they are dead then to you. If you die first, your 50% will go to your kids and/or spouse unless you make a will saying otherwise.
Both of you need to get a little smart here. There is simply no excuse for your sister not having a will. Wills are not all that expensive and even if she does not want to see a lawyer there are do-it-yourself will kits (my preference would be for her to see a lawyer but a will by kit is better than nothing provided that it is filled out correctly).
You also need a will to make sure that the land and other assets pass to your children. Take the deed and other information to an estate planning lawyer in your area.
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