Can property be donated to your children
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Can property be donated to your children
You donate to a charity, you give things to family members.
You also give things to people while you are alive.
If you wish to leave them things in your will, you may do that also
Are you intitled to any property upon the death of your parent if the is no will at the time of his death three adult child all over the age od forty. But he has a wife of 30 years. Is she intitled to all assest?
Are you intitled to any property upon the death of your parent if the is no will at the time of his death three adult child all over the age od forty. But he has a wife of 30 years. Is she intitled to all assest?
Theresadp: It depends on what state the deceased lived in. For most states, if you die intestate (without a will) and leave behind a spouse and children, the estate assets are split between the spouse and the children. Some states split it 1/3 to the spouse and 2/3 to the children in equal amounts, others do it 50% to the spouse and 50% to the children. So the question is: what state did the deceased parent live in? Also, be aware that these rules apply to the assets that are being probated; any assets that have benficiaries named (such as an IRA, 401(k), insurance, and possibly investment accounts) go to the named beneficiary. And of course any property that is jointly owned with "right of survivorship" goes to the joint owner - this is typical for real estate, especially a primary home, and joint checking or savings accounts, but the executor of the estate will have to verify.
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