Even if you specifically state in your Will or Trust that your spouse is disinherited, your spouse may claim as much as half of your estate if the two of you were married at least 15 years. The spouse is entitled to lesser percentages if the spouses were married to each other for fewer years. » Read more..
Tag Archive for augmented estate
An oft-told tale describes a young man’s efforts to entice a beautiful woman to marry him because he would soon inherit $20 million from his ailing father. Impressed, the woman asks the man for his business card. At their next encounter, the beautiful woman introduces herself as the man’s stepmother – i.e. showing that women are better financial planners than men.
This imaginary woman’s expertise in financial planning is based on laws that provide for surviving spouses before providing for a dead person’s children. The young man was now going to have to wait for his new stepmother to pass on, which – if this was a May-December romance – could be some years from now. » Read more..