Legal Question in Wills and Trusts in New York

Re: Inheritance

Since only the name of the decedent is listed on the deed, the house is now part of the decedent's estate.

To have the living spouse's name on the deed, an administrator must be appointed by the Surrogate's Court. The administrator would then transfer the house to the spouse and children in accordance with intestacy law (to die intestate means to die without a will).

Under intestacy law, $50,000 together with 1/2 estate is transferred to the wife, with the remainder to be equally divided between the children.

Under your facts, the decedent left children in the first and second marriage. Therefore each child would equally share 1/2 of the estate.

Mike.

Re: Inheritance

First, as surviving spouse, you apply to the Surrogate to be Administrator of the Estate. Once appointed, you need to determine the probate estate (those assets that would have been covered by a Will, if there had been one) and what is the total estate (this includes assets that pass outside probate, like joint bank and brokerage accounts, pensions and IRAs with a designated beneficiary, and life insurance with a named beneficiary). You are subject to the intestacy statute (how an estate is divided when there is no Will), A surviving spouse does not automatically inherit everything, when there is no Will, and must follow the statute. This means while you have a right to live in the marital home, it does not automatically become yours, but it is only part of the probate estate. I suggest you retain a good, local, attorney familiar with these types of matters to assist you. Contact me if you need more information. This is a reply to an Internet question and the response is not intended to be legal advice or create an attorney-client relationship.

Re: Inheritance

You apply to be Administrator of the estate and then follow the intestacy statute as to how an estate where there is no Will must be distributed among spouse and children. You do not automatically inherit the entire estate,but only a share of the assets. Assets registered in joint names go to the survivor named on the account, as does any asets with a designated beneficiary like pensions, IRAs and life insurance. You are not automatically entitled the have a new Deed in your name and the marital house passes as part of the estate subject to the statute. You do have the right to live there, even if its value is more than your share of the estate. Contact me directly if you need any assistance. This is a reply to an Internet question and the response is not intended to be legal advice or to create an attorney-client relationship.