What is fair in a second marriage and estate planning?

What is fair in a second marriage and estate planning?

When deciding what is fair in a second marriage and estate planning, consider where the gaps might exist that could leave your assets in jeopardy. Not having a will, for example, could be problematic if you pass away. Without a will, your state’s inheritance laws would be applied – not your wishes.

Can a father gives all his property to one child?

A father cannot freely give the ancestral property to one son. In Hindu law, the ancestral property can be gifted only under certain situations like distress or for pious reasons. Otherwise, the ancestral property cannot be given away to one child to the exclusion of all others.

Can a child inherit from a deceased spouse’s estate?

In community property states, the surviving spouse generally receives the deceased spouse’s half of the estate. In these states, a child is not entitled to inherit any property.

What happens when a father dies and there is no will?

Some states leave the entire estate to a surviving spouse while other states may leave one-half or one-third of the estate to the spouse and the rest to the children. The children then divide the remaining portion of the estate equally. It can be difficult when a father dies without a will.

Is my father’s wife entitled to everything in his estate?

The Rules of Intestacy place relatives in a strict order of priority, and your father’s wife will be placed at the top of this list. If your father’s Estate is worth less than £250,000 then his wife will be entitled to everything. If his Estate is worth more than £250,000, then his wife will be entitled to everything up to that value.

Can a child born of a second wife claim ancestral property?

While children born of the second wife have right on their parent’s property, they do not have a direct right on the joint ancestral property, especially if the second marriage occurred without divorcing the first wife. The children are, however, understood to be legitimate and can be coparceners in father’s ancestral property if he dies intestate.