Bequeathed Real Est in IN?? Death of Spouse?
@marylamby are you asking -- who gets it, a partial property interest in a real est parcel, either w or w'out home?
Repeating: One point to bear in mind: A couple may enter a pre- nuptial (or post-) agreement, to set terms for property division on separation, divorce, or death, or all three, so the st. prop laws may not apply w those events.
This post relates to (hypothetical)
DEATH. IN law. From nolo again.
"Many valuable assets don’t go through your will and aren’t affected by intestate succession laws. Here are some examples:
- property you’ve transferred to a living trust
- life insurance proceeds
- funds in an IRA, 401(k), or other retirement account
- securities held in a transfer-on-death account
- real estate held by transfer-on-death deed
- vehicles held by transfer-on-death registration
- payable-on-death bank accounts, or
- property you own with someone else in joint tenancy or tenancy by the entirety. [like this prop?]
"These assets will pass to the surviving co-owner or to the beneficiary you named, whether or not you have a will." bbm
"Under intestate succession, who gets what depends on whether or not you have living children, parents, or other close relatives when you die. Here’s a quick overview: ...." See chart at link, and sections on spouse's share and children's shares.
From:
Intestate Succession in Indiana at nolo.com.
As always, welcoming comment, clarification, correction, esp'ly from members of our legal profession. jm2cts.
