What would be the divison of property and money when a father dies leaving a spouse and 3 children?
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What would be the divison of property and money when a father dies leaving a spouse and 3 children?
All money and property were under the father’s name prior to marriage.
Asked on October 7, 2012 under Estate Planning, New Jersey
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
The answer to this question depends on the state in which you live. When someone dies without a will, state statutes say who will inherit what.
In Florida, special provisions exist for the family "homestead" (i.e., the home in which the husband and wife live). The spouse receives a "life estate" in the homestead - the right to live in it for her (or his) lifetime. The "remainder" goes to the children of the deceased (i.e., ownership after the spouse dies).
Other than the homestead, Florida law handles things a little differently depending on whether the children are the children of the deceased and the spouse or just the deceased. If the children are children of both, then the spouse inherits everything. If the children are children of only the deceased, then the spouse inherits half and the children inherit half.
You will need an estate or probate lawyer to transfer the father's property. The lawyer can tell you how items will pass in your state.
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