My husband wrote a new will when our relationship was in bad shape. I do not know what is in this will, but it’s still current and in his brother’s possession.
The good news: We are in a happier place now! However, I would like to write my own will. Before I do that, I have a few questions:
1. My husband is the beneficiary on my life-insurance policy. I would now like to split this 50/50 between him and my daughter. Would I have to change the policy?
2. I do not want him to sell any of the assets in my name so he can benefit from them, as I want to make sure they are secure for my daughter’s future. Can I specify this in my will?
3. I would like to leave my 401(k) and IRA accounts to my daughter and husband, splitting them 50/50. Can I state this in my will too?
My answers to your questions:
2. Talk to your estate lawyer about a trust for your daughter, should she still be a minor at the time of your death. Make separate wills and keep them with your attorney; it’s not a job for relatives.
3. You need to change the beneficiary on the actual policies. Under federal law, your husband will need to sign a waiver to relinquish his claim to your 401(k).
Let me channel my inner