Legal Question in Wills and Trusts in New Jersey
my share of the estate
My father left a last will & testament, naming his wife (he was remarried) and his biological adult children. His wife told us that he had requested we each be sent $5000 and that is what she is releasing to each of his children, but his estate is worth much more than that. Do we have any rights?, or does his wife have all the rights to property, jewelry, monies etc? thank you.
1 Answer from Attorneys
Re: my share of the estate
THE ANSWER DEPENDS UPON ANSWERS TO SEVERAL QUESTIONS. DID YOU RECEIVE A COPY OF THE WILL? IF YOU WERE NAMED IN IT, YOU ARE ENTITLED TO SEE A COPY, AND SHOULD GET IT FROM THE EXECUTOR, OR, IF THEY REFUSE, FROM THE SURROGATE WHERE THE WILL WAS PROBATED (THERE MAY BE A SMALL FEE TO GET A COPY). ONCE YOU SEE THE WILL, YOU WILL KNOW WHAT YOU ARE ENTITLED TO UNDER IT. HOW WERE YOUR FATHER'S ASSETS REGISTERED, INDIVIDUALLY OR IN JOINT NAMES WITH SOMEONE ELSE, AND/OR WHERE THERE DESIGNATED BENEFICIARIES NAMED? A WILL ONLY OPERATES ON INDIVIDUALLY OWNED ASSETS, SO ANYTHING REGISTERED IN JOINT NAMES (LIKE BANK ACCOUNTS OR BROKERAGE ACCOUNTS) OR WHICH NAMED A DESIGNATED BENEFICIARY (LIKE LIFE INSURANCE OR RETIREMENT PLANS) GO TO THE PERSON NAMED OR THE DESIGNATED BENEFICIARY, IF HE/SHE SURVIVED YOUR FATHER, EVEN IF THE WILL SAYS SOMETHING ELSE. PLUS, SURVIVING SPOUSES HAVE CERTAIN RIGHTS TO A MINIMUM AMOUNT FROM THE ESTATE. DOES THE WILL GIVE HIS NEW WIFE HER BEQUESTS OUTRIGHT OR IN TRUST? IF IN A TRUST, YOU MAY GET SOMETHING WHEN THE WIFE DIES. WERE THERE ANY WRITTEN AGREEMENTS BETWEEN THE WIFE AND YOUR FATHER, SEPARATE FROM THE WILL, WHICH MIGHT COVER WHAT SHOULD HAPPEN IF YOUR FATHER DIED BEFORE HIS WIFE? THIS MAY ALSO GIVE YOU SOME INFORMATION. KEEP IN MIND THAT THERE IS NO LAW THAT SAYS A FATHER MUST PROVIDE FOR HIS NATURAL CHILDREN, ABSENT INCAPACITY OR UNDUE INFLUENCE. THIS IS A RESPONSE TO AN INTERNET QUESTION AND THE REPLY IS NOT INTENDED TO BE LEGAL ADVICE OR AS CREATING AN ATTORNEY-CLIENT RELATIONSHIP. OMITTED OR MISSING FACTS MAY PRODUCE A DIFFERENT REPLY.