Community Property vs. Previously prepared will

[paintmadman]

What is the name of your state (only U.S. law)?
California

My wife recently passed away. Before we were married she had prepared a will leaving all her assets to her daughter, my stepdaughter. During our marriage my wife received more stock in her company and also Accelerated Death Benefit from insurance with which she purchased mutual funds. Are those assets acquired during marriage community property? Even though she listed her daughter as beneficiary would I have some claim to them?

 

[tranquility]

Some portion of the stock may be community property. How much would depend on all the facts.

The designation of another as beneficiary is far more difficult and would, again, depend on all the facts.

Both questions really require a consultation with an attorney.

 

[latigo]

What is the name of your state (only U.S. law)?
California

My wife recently passed away. Before we were married she had prepared a will leaving all her assets to her daughter, my stepdaughter. During our marriage my wife received more stock in her company and also Accelerated Death Benefit from insurance with which she purchased mutual funds. Are those assets acquired during marriage community property? Even though she listed her daughter as beneficiary would I have some claim to them?

You must seek the advice of a California attorney fully acquainted with the state’s probate code and its community property laws. It may be that her pre-existing will was automatically revoked concurrent with the marriage.

In any event her will cannot dispose of your vested one half interest in the community estate, which would include the shares of stock or any other assets that can be traced to her earnings during the marriage.

Also, even though the proceeds of the insurance would not be included in her estate for purposes of probate distribution, you may have a claim to those proceeds to the extent that community property contributed to the payment of premiums.

These are complicated issues for which you will need the advice and assistance of an experienced professional well-versed in California law.