Legal Question in Wills and Trusts in Illinois
what next?
ex-wife is custodial parentof 3 kids -1 child 18 but lives at home..house in possesion of ex wife but both names still on title..house is in foreclosure..kids have iras that ex had control of for children..she dies in car accident..can biological father get possession back of house and control of funds for kids...ex wife has no will...
1 Answer from Attorneys
Re: what next?
Lots of issues there...I'd meet with a good lawyer fairly soon. On the house I'd want to know what was done with it in the divorce judgment? If you own it in joint tenancy then likely it does just go to you but I need more info. What's the plan with custody of the kids? IRAs likely depend on if there's a named beneficiary or not. If yes, they just go to that person. If no will, there's something called the Intestate Statute as to how property gets divided but you wouldn't get anything as a former spouse.
How about a life insurance policy? Typically each party in a divorce has to get one in their names for the kids.
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