Both parents are ill. They have a house in Puerto Rico. I'm the only daughter from this marriage. My mother had 3 other children. I'm my father only child. If there is no written will and the house is in their name....who will be the beneficiary?
2007-09-12 07:51:55 · 6 answers · asked by buddyt2 1 in Politics & Government ➔ Law & Ethics
This is a two part question because of the prior children. Assuming the house is held by the entireties, as most married people hold houses, the house would go to whichever spouse lived longer than the other. It would not matter if it were one second longer, the title would transfer automatically upon death of one. If your mother died first, the house would then go to your father and on to you as the only child. If your father died first, the house would go to your mother and then to the 4 children equally.
If they are well enough, they should draft a will or transfer title to the house to a trust.
2007-09-12 08:05:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Decedent estate laws vary greatly from state to state. You should consult an attorney. In some states it is possible to have the property put in a life estate of the parents with the residue going to who ever. This keeps it out side of a will. This is called a future interest.
If there is no will and the property is not set up like I suggested, then it will be determined through the intestate succession laws of your state. Most likely, all property would be sold and the heirs as determined at that time would receive there portion according to law.
2007-09-12 08:08:23 · answer #2 · answered by hensleyclaw 5 · 0⤊ 0⤋
The State will be one beneficiary if there is no will. You and your parents best interest would be served by getting a will made and registered before something happens to either of them.
2007-09-12 08:20:26 · answer #3 · answered by sensible_man 7 · 0⤊ 1⤋
In Texas, the estate would go to probate court and a judge would decide how the estate property would be distributed.
This is not the way to go. Part of the estate will go to legal fees. Part will be lost to court costs.
2007-09-12 08:02:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
you more then likely will need to probate the estate. with your parents alive now, you may want to encourage them to make a will or appoint a personal representative. also, you should speak with an attorney who know puerto rican law, since probate can ber very complicated. there may be things you can do now to avoid probate.
2007-09-12 08:06:57 · answer #5 · answered by jack spicer 5 · 0⤊ 0⤋
who has power of attorney over your parents, i'd ask them. if there's no will or anything the goverment will split their assests amongst your remaining family members.
2007-09-12 07:59:33 · answer #6 · answered by Anonymous · 0⤊ 2⤋