First, if your husband doesn't have a Will or Trust when he dies, his Estate would be distributed under Nevada's intestate succession laws, provided the real property is in Nevada. Under intestate succession, you being his spouse, would receive 1/3 of his Estate and his children would receive the remaining 2/3. If your husband wants you to live on the property after his death and then have his children receive the property upon your death, he definitely needs at least a Will if not a Will and Trust. In either a Will or a Trust he could grant you a Life Estate, meaning you could live on the property until your death and then, if he chooses, his children would inherit the property. If he were to put your name on the title of the property as a joint tenant with right of survivorship, upon his death the property would become your's and he runs the risk that you would have an Estate plan drafted leaving the property to whom ever you wish. If his wish is truly for the property to go to his children upon your death, he would probably be better having an estate plan drafted giving you a Life Estate.
Answered on Apr 02nd, 2014 at 5:53 PM