homestead law , what is it?

Question

after 10 years, he dies ,and his family takes everytyhing?
Me and the kids have nothing?

Answer 1

There are two uses of the phrase "homestead law".

It originally referred to the concept of homesteading -- claiming property outside of the existing states as a home.

The modern term refers to the exemption that homesteads have under several gift and inheritance tax laws. The value of the home, up to a certain limit in most states, is not taxed.

As far as inheritance, each state (and country) has its own laws for what can be conveyed via a will, versus how property is distributed if there is no will. All of these laws vary by state.

Answer 2

I'm in Texas, and always thought homestead law was what protected the gov't or any creditors from taking your home and land to collect a debt.......?

Maybe it depends on the state, but if you are legally married to him, (at least here in Texas), you get everything after he dies, unless he has stipulated otherwise in his will. (you also get all his debt.)

Answer 3

There are different ones