Do All Assets Pass To Heirs Through The Last Wills And Testaments?
Do all assets pass to heirs through the last wills and testaments?
All assets that were passed on to you or your spouse through your parent's will or trust will pass to your children through the last wills and testaments of the two of you.
However, there are some special circumstances that can alter this process. If your parents had a prenuptial agreement, or their divorce was finalized after their deaths, assets that they passed down to you will go to your kids through a different chain of succession. Also, according to common law, assets in a bank account that have been opened for more than five years will pass to the manager of the account—for example, if you had an account with your spouse. But he died before the five-year mark; all the money in that account would go to him, and not necessarily to his heirs.
Not all assets pass to heirs through the will. Some assets pass by intestacy. Intestate is a term that means that the state, not a person, decides who inherits. Florida has a set of intestacy laws which govern how assets pass if you don't have a will.
If you have any questions about Wills and Testaments or need a Probate Lawyer, please call this law firm for a free consultation:
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
