There's property you own in common with your spouse and property that you own separately and they are treated differently as parts of the estate. And how they are defined and how they are handled varies by state.
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I can't believe a spouse would only get 50% and parents would get 50%?!!? I thought when you married it went to your spouse! Maybe it's a crazy Maryland law? Geez.
Nope, that's not that unusual.
Dying intestate is not recommended, folks. Which reminds me: I should do something about that, as well. I don't have much worldly goods worth worrying about (except for all my books, yikes), but I have retirement money I would want to go to my nephews and niece for their college funds.
If nothing else, it seems worthwhile to save my mother (god forbid)/other heirs the headache of dealing with it. As per Maria.
If nothing else, it seems worthwhile to save my mother (god forbid)/other heirs the headache of dealing with it. As per Maria.
Exactly. It would be dumped on my sister, like everything else, and I hardly think that's fair to her.
LegalZoom is totally easy and not expensive. I just went there and filled out the questionnaire for changing my name, which I've been meaning to do for, oh, ten years now.
Axl Rose wrote a crazyass letter to the R&R Hall of Fame that he's not wanting their stinking induction and not showing up and OMG Steven Adler is at fault for hurting my fee fees.
It's awesome.
I'm so hoping the Beastie Boys show up and perform. Chuck D is doing the induction thing for them!
Hubby and I are members of AARP, I bet they have legal angles to explore. It's surprising how beneficial membership in that has been, if just for the free coffee at Denny's.
And how they are defined and how they are handled varies by state.
And it sucks that you and I know this first-hand.
I should do something about that, as well.
As soon as we finish up with the heavy lifting of Rob's estate (which could take 6-9 months to completely wind down), I will be preparing my will. I've got retirement funds and life insurance, plus my share of the family business to worry about, and I want to avoid any tax issues for those that inherit. A revocable trust seems to be in my future.
it seems worthwhile to save my mother (god forbid)/other heirs the headache of dealing with it.
You can name anyone as your Personal Representative in your will. It doesn't have to be your closest living relative. I have a non-family member/non-friend (probably an attorney) in mind for mine. This way, the family doesn't have to deal with grief as well as legal bullshit at the same time.
So you know how sometimes you can be sitting at work minding your own business and suddenly get a work call that leaves you kind of gobsmacked and aware that things might be about to get very very messy and that's even before the other person starts crying?
Yeah, it's been one of those days.
Ugh, I'm sorry, Lee. I hope you're not caught in the fallout zone.