Legal Question in Wills and Trusts in Maryland
Dying without a will
My ex-husband recently passed away without a will. He remarried at Christmas, probably to assure his new wife a green card. She is not a US citizen.
We have two children together and while he did not leave much, they do not know what their rights are.
According to his 2005 tax returns he took a lump sum payment from a pension plan of around $140K. With the exception of purchasing a new Honda for around $20K, we cannot locate the money.
SInce he die without a will, how should the car and money in checking accounts be divided? How can they determine where the remaining pension funds are located? Are they entitled to a portion of these?
Thank you.
2 Answers from Attorneys
Re: Dying without a will
When someone dies without a will they are said to pass "intestate." This means that the statutory formula applies where probate property is split with the surviving spouse and child(ren.) A surviving child should speak with an attorney to determine how to proceed.
Re: Dying without a will
Your children *might* be entitled to a portion of your ex-husband's assets. Generally, "probate" property held by a decedent at death will, in this situation, roughly be split 50-50, with half going to the surviving spouse and the other half being divided among the surviving children. Actually, the surviving spouse may get the first $15,000 from the estate with the remainder being split 50-50 as described above.
Anyway, not all property is "probate" property. In particular, joint property (for example, a checking account titled joint tenancy with right of survivorship) will pass directly to the other account holder by operation of law. That is, the decedent's interest in the account vanishes at death. Brokerage accounts may be similarly titled. This is different from the way estates are taxed, which makes it confusing.
Since your ex-husband died without a will, he did not name a personal representative. Your children could petition to open an estate with them as PRs.