How is property divided in a will when there are multiple children and spouses?
How is property divided in a will when there are multiple children and spouses?
When a person dies, the decedent's property is distributed either via a will or through intestacy laws. When there are multiple heirs, the property is divided according to a formula that takes into consideration the number of individuals and their relationship to the decedent.
Often, an estate plan will name an executor or administrator who will oversee the process of distributing property after a person's death. A probate court may have to make decisions about how property is divided or transferred, especially if there are disagreements about the process among family members—say, between children of the deceased who are also beneficiaries of their parents' wills.
In most cases, it's up to the executor or administrator to look at state law and figure out how best to divide property. Most states divide property based on principles of fairness, which can be expressed as equal shares (each spouse gets half), per capita (one share for each relative in relation to how many other relatives there are), by valuation (based on fair market value), by intestate succession (what was left over when everything else was given out), and so on.
The general rule is that assets left directly to family members—such as cash, bank accounts, real estate, and vehicles—are distributed according to state law. However, if assets are left to a trust or another person who then distributes the assets according to the wishes of the original owner, any deviations from state law must be considered carefully.
If you have any questions or in need a Will and Estate Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.
We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More
Parklin Law - Estate Planning
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
40.605070, -112.027530
Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
