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The Moneyist: My fiancé is 14 years older and has three kids — will we share his estate if he dies?

Dear Moneyist,

I’m a 34-year-old woman living in West Palm Beach, Fla. I’m engaged to a divorced 48-year-old father of 3. There is a 14-year difference between my fiancé and I. He has full-time custody of his 3 kids from a prior marriage. We are making plans on getting married quickly and purchasing a house. What are the laws on inheritance if something occurs to my fiancé and I am left by myself together with his 3 kids?

Also see: My spouse and I want to have a 2d kid — is that this a great time to shop for a brand new house?

Will I be compelled to promote the home that my long term husband and I've labored for and cut up the profits together with his kids? Will I be compelled to split the cash in our bank account and provides it to his 3 kids? Will you please explain the law to me? I do know that if something had been to happen to him and he had debt I must repay his debts since we are legally sure via marriage.

These are things that I've to believe given the age difference and that we haven't any kids together.

The fiancée

Dear Fiancée,

Unless your fiancé makes a will and also you speak about this may increasingly prior to you get married, at the side of any requests both of you may have for a prenuptial agreement, state law will dictate who will get what will have to your fiancé predecease you. Although this is a macabre query, it’s now not an unusual one.

People have all types of questions on what might happen. One woman asked if she could disinherit her stepchildren if her husband dies. Another asked the opposite query to yours: She questioned who could be accountable for her stepchildren’s student loans if they died.

You are not powerless. If you are buying a house together, and making an investment equivalent amounts, you'll have “the dialog” about what would happen will have to one of you predeceases the opposite. Ask if his ex-wife is on his life insurance coverage as part of their divorce decree. (Sorry so as to add in your worries.)

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You want to focal point to your preexisting commitments too. In 2013 in Hillman vs. Maretta, the U.S. Supreme Court dominated in favor of a 66-year-old man’s ex-wife (relatively than his widow) because the beneficiary of a life insurance plans worth over $124,000. Divorce court docket trumps wills made after a 2d marriage.

So if he dies without a will in Florida? You would inherit half of his property and his two kids would inherit the opposite half. As a co-owner of your home, it could now not be topic to intestate succession laws. In that case, you possibly can inherit your overdue husband’s proportion of the property if he predeceased you.

You want to pass into this marriage feeling empowered and glad. Questions beginning with, “Will I be compelled…” give me pause for worry about your willingness or, perhaps, readiness to start a brand new life with a man who has 3 kids. They will require emotional in addition to monetary strengthen.

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Hello there, MarketWatchers. Check out the Moneyist personal Facebook workforce, where we look for answers to life’s thorniest money problems. Readers write in to me with all types of dilemmas: inheritance, wills, divorce, tipping, gifting. I incessantly talk to legal professionals, accountants, monetary advisers and different mavens, in addition to offering my very own ideas. I obtain extra letters than I could ever solution, so I’ll be bringing all of that steerage — together with some it's possible you'll now not see in these columns — to this workforce. Post your questions, tell me what you wish to have to grasp extra about, or weigh in on the latest Moneyist columns.