Reply to Elderly Aunt divorcing, no will at present

Forum Index » Money and Finances

Reply to "Elderly Aunt divorcing, no will at present"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Don’t worry about the will. Worry about the marital estate and dividing it up in a written settlement agreement. That agreement will confirm that each party waives all estate rights in the event the other party dies. Doing the will first won’t help. Maryland has the elective share statute. That means that he could elect to take what is in her will or a set portion of her estate. If she left him zero, the elective share statute means he doesn’t get zero...since he’d elect to take the percentage he’s entitled to as the surviving spouse. A written settlement agreement eliminates this.

- a divorce lawyer [/quote]

So should the aunt leave him $1 in her will? Or does he get to know what’s in her will before making the election? (I’m kinda hoping it’s more like Let’s Make a Deal and he doesn’t get to know.)

With special needs in the mix, your aunt should have a simple will in place. Can anyone advise OP whether/how the terms of the pre- and post-divorce wills could vary to achieve the suits goals?[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics