Legal Question in Wills and Trusts in Illinois
What is the separation of assets if the mother of 4 children dies with no will? Father is already deceased 4 years prior. Title of house went from deceased husband & mother to oldest son & mother?
1 Answer from Attorneys
If the oldest son and mother owned the home as joint tenants with right of survivorship, the house is not part of mother's estate and oldest son owns it outright. All other assets would be subject to equal division among all the surviving children or their heirs after the payments of attorney fees and court costs, funeral expenses, any unpaid medical expenses and unpaid taxes. If any of the adult children were dependent upon mother financially due to medical or psychiatric issues, that adult child may be eligible for a larger share of mother's estate. Also any bank account held jointly with another pass directly to the other person in most cases and the funds therein are not part of mother's estate. This includes any insurance policies with named beneficiaries. Strongly suggest that you contact an attorney in your area to discuss the matter more fully.