I have a child from my previous marriage. I re-married and got 2 more kids. My in-laws bought us a house, pd for 50% of it. My hubby & I equally pay monthly morgage. Recently, my inlaws wanted me to sign a legal document making only my 2 younger kids d beneficiaries of the house just in case my hubby dies. What abt my 1st child? I feel that he deserves some fair share since I put in monthly mortgage but I don't like discussing money issues with my inlaws. What do i do? I have changed my beneficiary schedule in my 401K giving my oldest 80% of it and 10% equally to my other 2 kids. Then i think they might think i favor my oldest when time comes to get the inheritance but I am dead so I cannot explain anything (they are all under 10 y/o right now).
Honestly, I don't care for anything for me but I'd like al my kids to have their fair share. But what is fair & how do I handle this situation without leaving any one left out and not making a negative impression to my in-laws?
2007-09-03 09:58:11 · 2 answers · asked by smith 3 in Business & Finance ➔ Personal Finance
What do they want you to sign? You could be sneaky and sign it IF it is revokable. If it is not revokable, you're going to have to say "no." They gave you a gift and they can't take it back legally. You're making 1/2 the mortgage payments and your oldest is entitled to his/her share. Your idea about the 401K is good if the value is equal.
2007-09-03 10:09:32 · answer #1 · answered by David M 7 · 0⤊ 0⤋
How does your hubby feel about this? Is the house in just you and your husband's names? Or are the in-laws on the deed too? I think your in-laws are way too deep into your business.
Go see a lawyer and make out a will, leaving your share of your house to whom ever YOU chose. When your in-laws bring up that legal paper, just say, "oh, I've already taken care of that in my will." And say nothing more.
2007-09-03 10:33:13 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋