Legal Question in Wills and Trusts in New York
Can an administrator distribute differently than the Law of Intestacy?
If someone died without a will in 2010, can surviving family members (spouse and three children; all adults) agree to ignore the laws of intestacy and distribute however we see fit? How does this affect estate taxes? The main reason we want to do this is to give more to the spouse, to lessen (avoid) New York estate taxes. Also one child was more involved with the family business, which we plan to sell, and deserves a larger portion of that asset.
1 Answer from Attorneys
Q. If someone died without a will in 2010, can surviving family members (spouse and three children; all adults) agree to ignore the laws of intestacy and distribute however we see fit?
A. If they all agree I would think there would be no problem. Estate taxes would be based on the individual(s) actually receiving the money.
Mike.
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No will surviving spouse who gets money,in new york state Asked 5/04/11, 6:59 am in United States New York Probate, Trusts, Wills & Estates
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