Question: I have adult children and recently remarried. I have no will. If I die tomorrow, who gets my stuff – my wife or my kids?
Answer: Good news: the rules are clear without a will or trust.
Your wife gets 100% of the estate if:
- all surviving kids, grandkids, etc. belong to both of you, or;
- no kids, grandkids, etc. or parents survive you.
Your wife gets the first $200,000, plus 3/4 the rest of the estate if:
- you leave no surviving kids, grandkids, etc., but your parent survives you;
Your wife gets the first $100,000, plus 1/2 the rest of the estate if:
- you leave surviving kids, grandkids, etc. belonging only to you (not your wife’s kids), or
- you leave surviving kids, grandkids, etc. belonging to both of you, and your wife also has a kid of her own.
Bad news: your wife may need to sell your home to raise enough money to payout your kids’ share. Writing a will or trust to help them avoid such drama.
Contact Priority Law to draft or update your will or trust.
The article was originally published in the Lowell Sun and is for informational purposes only and not to be relied on as legal advice, in any manner.