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#1
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Distributing of probate assetsWhat is the name of your state (only U.S. law)? California Hi, My father passed away without a will. The only assets that falls into probate assets is the house that he bought. He bought the house back in 1995 alone. He then remarried in 1999, though he didn't change the title. So, the house is still now under his name. During marriage with his second wife, he and her both pay for the mortgage. The balance of the mortgage is around $100K, but the value of it is around $500K. He died leaving a survived spouse (his second wife) and 2 children (me and my brother), who are the legal heirs. My question is how is this asset be distributed after all the debts are paid. How are they determine who gets how much. My step mother said that her attorney told her she will get 75% of the value of the house. Is this correct? Please advise. Thank you, Cindy |
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#2
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| There is a big difference between the 1/3 she gets under the laws of intestate succession, and 75%. Some of it might be any principal paid down with community property. Some of it might be posturing. Do you know how your step mother's attorney arrived at his/her figure? Divorce attorneys litigate these issues all the time, but this is a probate issue. Your next step is to hire a probate attorney of your own, and get ready to litigate. Last edited by tecate; 10-27-2009 at 11:33 PM. |
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#3
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Is it a community property or is it a separate property?Thank you for the reply. I appreciated it greatly. My step mother did not say why or how her lawyer came up with the figure of 75%. I would make an assumption that she they took into the account of the mortgage payments she and my father had paid together during their 10-year of marriage. Question: so is this property a community property or is it a separate property? Since it is a mixed of both. Thank you, Cindy |
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#4
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| Property brought into the marriage is separate property, but you will be litigating about what happened afterwards. |
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