A will would be great. However, as a surviving spouse you will have rights if he passes away. Ohio law will give you some rights in the home if you choose to elect the house as part of your share. However, there may be issues since he is the only one on the loan. This is worth talking with an attorney about in your area. Use the Avvo "Find a Lawyer" function or contact the Lorain County Bar Association for a referral.
Mr. Andersen's answers are not intended to create an attorney-client relationship and are based on only the limited information provided in the question. Thus, his answers should not be considered as legal advice, and persons seeking legal advice should contact Mr. Andersen directly and/or another attorney with a law license in the state in which your situation arose. Mr. Andersen is licensed to practice law in Ohio.
I agree with Attorney Anderson. Please retain an experienced Ohio lawyer to review your circumstances and assist you with your estate planning. Good luck to you.
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As my colleagues have said, you need to meet with an expert, experienced estate planning attorney right away so he or she can take a look at the arithmetic of your situation along with the documents. When he dies, the bank can "call" the loan, meaning you will need to get a new mortgage. Or they can let you keep the loan, but someone must make the payments. If you will need the insurance to be able to afford to make those payments, it would be best for you to be the sole beneficiary, but it is also understandable that he would want to leave something for his daughters. This type of situation is very complicated emotionally, even more so when one has a terminal condition. You need to purchase an hour or two of consultation from an expert lawyer which will probably cost you from $300 to $500 but should be well worth it.
Your second sentence is a bit complex. If I am reading it correctly you say you want his daughters to get a part of your house eventually, but I suspect that is not what you meant to say.
Mr. Huddleston is an Ohio-Certified Specialist in Estate Planning, Trust & Probate Law, with offices in Columbus and Dayton, serving client families and private business owners throughout Ohio. He may be contacted directly by phone toll-free at 888.488.7878 or by email CLH@HUDDLAW.COM. Mr. Huddleston responds to Avvo questions as a public service to help educate and provide general guidance to questioners, but his responses are not legal advice and do not create an attorney-client relationship.
A will is always a good way to clarify the intents of the testator (person making the will); however under intestacy laws (when a person dies without a will) generally, the wife get the first $50K of the estate assets and a portion of everything there after. You should speak to a local estate attorney to help you decide what is the best way to go. State laws vary and a local estate attorney would be in the best position to know state laws. Don't hesitate to search on avvo.com for a qualified attorney.