[jayerose]

Good evening,

Newly married here in The Villages.

The house is in my name and I had a will drawn up.

Would my husband also need a will?

He has adult children, some mutual funds and bank accounts.

thank you!

[Bogie Shooter]

Contact a lawyer!

[retiredguy123]

I think it is a good idea for everyone to have a will. A lawyer will prepare one for about $300 or so. I would suggest calling Amy Pittman, 352-399-6944.

[Babubhat]

Depends on how complicated. Can try Nolo or Legalzoom online for minimal cost

[villagetinker]

Florida seems to have some strange quirks, I second Pittman Law.

[KAM+6]

If he has just mutual funds and bank accounts, and wants to leave to his children, just needs beneficiaries listed on his assets. Keep it simple.

[retiredguy123]

A will is good, but, for mutual funds and bank accounts, the best thing to do to designate beneficiaries for those accounts. The assets will transfer automatically upon death and will bypass the will and probate. I have a will, but 95 percent of my assets will transfer immediately upon my death regardless of what the will dictates.

[dewilson58]

Originally Posted by Bogie Shooter

Contact a lawyer!

Bingo!!!!

Florida probate is not fun.

[Stu from NYC]

He should have a will

[manaboutown]

"Let's break it down: State laws may vary slightly, but the typical scheme of most states, including Florida (§732.101 to §732.111), is that intestate property passes in this order: spouse, descendants (children or grandchildren), parents, siblings (and children of deceased siblings).

In Florida, if you are married when you die and have no will, your spouse will inherit everything, even if you have children together. However, if you have children from previous marriages or relationships, then your spouse will inherit half your estate and all of your children will share the remaining half, including any children you had with that spouse."

From: What Happens to Your Estate if You Die Without a Will in Florida?

I suggest both of you see a lawyer to sort things out as estate matters involving intestate succession in second and subsequent marriages can get very messy and possibly expensive. Unintended consequences are common and can prove harsh.

[Bay Kid]

No offense, but why would you ask us for advice that requires a lawyer? We know it all, but are we right?

Seriously though ask your lawyer.

[Dani & Bill]

Originally Posted by jayerose

Good evening,

Newly married here in The Villages.

The house is in my name and I had a will drawn up.

Would my husband also need a will?

He has adult children, some mutual funds and bank accounts.

thank you!

Today, almost all titled assets such as investment accounts, IRAs, and yes personal residences, can be transferred upon death outside a will. Any transfer of assets through a will creates a probate process that is time consuming, confusing and potentially expensive.

Ask your attorney or CFP about TOD or POD registration of assets, or a "lady bird deed" which transfers residential property outside probate.

[Bogie Shooter]

11 posts……..7 say ask a lawyer. Need more be said?

[rjm1cc]

Best to have a simple will espically since second marriage. To leave financial accounts naming the person as the beneficiary at the financial institution avoids probate and supersedes the will. Do name your beneficiaries. Consider a separate writing for non financial items you want to leave to specific individuals. You should also have power of attorney (not valid once you die) and a health directive.
Has your will been update?

[jimbomaybe]

Originally Posted by jayerose

Good evening,

Newly married here in The Villages.

The house is in my name and I had a will drawn up.

Would my husband also need a will?

He has adult children, some mutual funds and bank accounts.

thank you!

I am surprised no has mentioned a trust, property passes w/o probate, as simple or complex as you need ( in addition to a will)