Question

Estates--Intestate Succession

Answer the following situations

Situation 1: Frank and Debbie are a happily married couple. They have four children together–Junior, Duke, Suzi, and Darlene. Debbie has one child of a prior marriage, Beverly. They live in a home purchased using community income during the marriage, and Frank owns 400 acres he inherited from his parents. Frank and Debbie have a savings account from their accumulated community earnings during the marriage with $50,000 in it. Frank dies without a will. Who takes what property left behind by Frank?

Situation 2: Frank and Debbie are a happily married couple. They have four children together–Junior, Duke, Suzi, and Darlene. Frank has one child of a prior marriage, Jacob. They live in a home purchased using community income during the marriage, and Frank owns 400 acres he inherited from his parents. Frank and Debbie have a savings account from their accumulated community earnings during the marriage with $50,000 in it. Frank dies without a will. Who takes what property left behind by Frank?

Answer 1

1. Anything(including property and bank accounts) jointly owned by partners will be fully inherited by the surviving partner on death of one partner.

2. Estate held by one partner, on his/her death, if estimated to be worth more than $250,000 will be split --

a. First $250,000 to be inherited by surviving partner

b. Half of remaining to the surviving partner

c. Remainder to be split between surviving children.

Situation 1:

Both the purchased home and bank account goes to Debbie. Up to a value of $250,000 and half of the remainder value of the property shall be inherited by Debbie.

Remained of the property (50% of any excess over $250,000) shall be split between the four children Junior, Duke, Suize and Darlene.

Situation 2:

Both the purchased home and bank account goes to Debbie. Up to a value of $250,000 and half of the remainder value of the property shall be inherited by Debbie.

Remained of the property (50% of any excess over $250,000) shall be split between his five children (includeing one from prior marriage) Jacob, Junior, Duke, Suize and Darlene.