Both of you should make a will outlining that you leave all your estate/belongings to the other. After both of you are gone perhaps your wife would like to leave her jewellery to a specific child, or you may have certain items to leave to a specific child. These things are best set out to prevent arguements after you are both gone. We have gone as far as setting out who we leave our estate to in the event that myself, husband and children die in total calamity. We have a family member who is never to benefit from us and wanted this set out in our will. Things might well be rosy now but down the line dealing with parental illness/care etc can cause tension and fall out between parents and children, and also between siblings. So to have everything legally written down leaves little room for arguements over your possessions when you're gone. We as a family got on fine until illness struck a parent and a relatives true colours shone through!! It's been a long road, even though the parent had a will written. It would have been a lot worse if the will wasn't written.