Q: Hello. Question. My husband's mother transferred shares of a cooperative apartment to his name.
Hello. Question. My husband's mother transferred shares of a cooperative apartment to his name. This was done during the marriage, but his mother registered the title to the apartment only in my husband's name. Now my husband has decided to make a will and a trust, but he has indicated his son from his first marriage as the beneficiary on all pension accounts. He wants to transfer the apartment to a trust so that I, as a wife, have no rights. What can a legal wife count on after her husband's death?
A: A gift to your spouse is not marital property even if given during the marriage unless it is comingled or transmuted. However, upon death, there are protections for a current spouse regardless of the will. New York has a "right of election" that allows a spouse to disregard the will and take a portion of the spouse's estate as if there was no will. You need to speak to an attorney to review the trust.
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