getting married soon to a wonderful man but he has a money loving exwife with his child so i need some help.we live in new york state.how can we make sure all his policies are up to date?does he need a will or if my name is on everything is that good enough?i have alot of money in stocks/bonds so do i need to do anything to protect that?can anyone tell me what other stuff we need to do when marrying a man with a crazy exwife(with a kid) who is out for every penny she can get?what do i need to do to protect myself and future children?
2007-01-21 13:18:05 · 5 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Your soon to be husband probably already has a Will. It would be wise for him to make another one, as this one would revoke all his previous Wills. In his Will he should specify what he wants to leave to you, his ex (if anything) and his son, plus any other family members, friends, etc. Be sure to have this done at a law firm to prevent anything that may cause the will to not be certifiable (i.e. if you were to sign as a witness to the will, but were also listed as a beneficary you would write yourself out of the Will and receive nothing).
It may also be wise to prepare Enduring Powers of Attorney which state who you and your soon to be husband want to look after their affairs should they become quite ill or injured and cannot make their own decisions. It is most common to list each other as the Attorney and this of couse would stop the ex trying to make financial or medical decisions on your husband's behalf.
If he has Life Insurance, etc, these policies will also need to be updated with the details of any new beneficaries (such as yourself) and to remove any unwanted beneficaries (ex).
Insofar as you are concerned, I would also prepare a Will, specifing what you want to leave to your new husband. As far as your stocks/bonds are concerned, I would keep these in your own name. The ex wife would have no right to have access to these as they are yours and you have nothing to do with the divorce process between her and your soon to be husband.
Is he paying alimony/child support payments? I think it would be wise to have the money for these payments come out of a bank account that is solely for that purpose and in your husband's name only. Any other accounts you may wish to have as joint accounts with both your signatures to stop the ex trying to take money from an account of your husband's.
I hope I haven't confused you, I am from Australia and so some of the things I have said might be different for you in New York. Best of luck.
2007-01-21 13:35:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Check with your state, but in Georgia when you marry any monies made and all assets obtained during the marriage cannot be touched by anyone out side of the marriage, in regards to ex-wives...
...However, any life insurances need to be changes over.
and you may want to keep your previously owned assets in your name only for your protection against her, and/ or if the marriage doesn't work out.
...not very romantic I know, but a word of advise from one women to another.
2007-01-21 13:27:03 · answer #2 · answered by Rada S 5 · 0⤊ 0⤋
See a lawyer who has experience in estate planning. This is a complex area, particularly for blended families. You definitely should have a will; just having things in your name will not be sufficient.
2007-01-21 14:40:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋
First of all, the child needs to be first priority. Do not bad talk his mother because he will resent the relationship between you and his father. If he has issues with her you need to stay out of it.
2007-01-21 13:31:19 · answer #4 · answered by gettin it 3 · 0⤊ 0⤋
Your husband-to-be should be taking steps to protect you and his furure children. His responsibilities are to you, his past children and his future children.
Sorry for the former wife...she should be on her own.
2007-01-21 13:27:29 · answer #5 · answered by buster 2 · 0⤊ 0⤋