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What happens to my estate in this scenario? |
My wife is older than me. She has made a will, I haven't. Our total assets are about 拢250,000. If we both die together at the same time does our estate go to: I hadn't realized it varied by country. Thanks to the US contributors but I should point out I am a UK citizen, therefore I guess the answer should be what happens under UK law. My understanding is no will, the family misses out and the government gets it,what a waste.You can go to the post office and pick one up, if not contact solicitor for an appointment. Trust me you don't want to make it any harder than it has to be for your family. I don't know if the family fights it in court I don't know if they can or not. Spend the dollars and PS Death knows no age. If your wife dies only then her will is made clear and legal,but is it up to date? Do you both have life policies covering each other? If you name her as beneficiary and she dies at the same time, the insurance company will consider that you died first and it would go to your contingent beneficiary. This avoids the money going to the estate and going through probate. Your relative ages have nothing to do with it. The law of the land, enacted law, provides for 'succession' through the inheritance laws and the law of succession, in various acts, to cover all situations! The legal heirs would inherit, as per the law of the land: separate wills will regulate the estates ascertainable as separate! When you say "our total assets" and "our estate" to what do you refer? In California, there is separate property and community property. There is also the law of intestate succession. In CA, as to the community property, half will go to the surviving spouse or to that spouse's survivors. The other half goes to the decedent spouse's beneficiaries under the will or to the next in succession if intestate. Separate property passes as bequeathed, or according to the laws of intestate succession. Unless held in valid joint tenancy with right of survivorship or in some other manner which speaks to succession. You'd have to be way more specific for more info than that. |
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