Marge is not at all sure she wants to be in my office.  She is 73 years old with two children from her first marriage.  She has been married to Gus, age 72, for twenty years.  Marge wants to know why she needs a Will.

“Everything will go to Gus anyway, won’t it?” asks Marge.

“Well, Marge, it depends.  Let’s look at a situation where you might be surprised by the results. It is likely that some of your assets are your separate property, since this is a second marriage.”

“Yes,” said Marge.  “My stock portfolio was earned before I met Gus, but we live on the dividends and interest.  I would want Gus to get the income for the rest of his life.”

“California law provides that if the portfolio is in your name alone and is your separate property, Gus will get only ½ of it, and your children will get the other ½.”

“Well, what if I put Gus’ name on it?”

“If you put Gus’ name on it in joint tenancy or as community property, it will all go to him at your death.”

“That’s what I’ll do then,” said Marge, getting up to leave.

“And then when he dies, it will go to his heirs,” I continued.

“Not to my daughters?”

“Not unless Gus writes a Will or a Trust that provides for them.”

Marge sat back down.

“Gus doesn’t believe in Wills.  What can I do?”

“We can draft a Will or a Trust for you that will give Gus the income for life, with the remainder going to your daughters when he dies.”

Marge looked relieved.