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. Write a will or trust to help them avoid such drama.
Attorney James Haroutunian practices real-estate law, estate planning and probate at 790 Boston Road, Billerica. He gladly invites questions at james@hlawoffice.com or by phone at 978-671-0711. His website blog is found at www.hlawoffice.com or www.prioritylaw.com. This column is published for informational purposes only and not to be relied on as legal advice, in any manner.