Deceased - No Will

[AlanArcher]

California

Recently my Father in Law passed away. He did not leave a will or any document detailing what would happen to his estate. Prior to his death he had my wife and her sister added to his checking/savings account as joint members. These are his only two children. There is an ex wife that had been divorced more than 30 years ago but they remained close.

My questions relate to his checking/savings account. My understanding is that all the money remaining in his accounts now belongs to my wife and her sister. Is that true? If so do they need to pay taxes on the money (About 160k)

Finally does his ex wife have any legal claim on any of the money or any part of his estate?

Thank YouWhat is the name of your state?

 

[divgradcurl]

California

Recently my Father in Law passed away. He did not leave a will or any document detailing what would happen to his estate. Prior to his death he had my wife and her sister added to his checking/savings account as joint members. These are his only two children. There is an ex wife that had been divorced more than 30 years ago but they remained close.

My questions relate to his checking/savings account. My understanding is that all the money remaining in his accounts now belongs to my wife and her sister. Is that true? If so do they need to pay taxes on the money (About 160k)

Finally does his ex wife have any legal claim on any of the money or any part of his estate?

Thank YouWhat is the name of your state?

Based SOLELY on what you have written:

1. With respect to the funds in the checking account, chances are no taxes are due unless he had a relatively large estate (over $1.5 million or so), but if you want further information, repost this particular question on the tax forum.

2. With respect to the ex-wife, unless there was something in the divorce decree or agreement requiring him to leave his ex-wife something (very unlikely), the ex-wife is entitled to nothing. She should have received her portion of any community property as part of the divorce settlement.

3. If you haven't already, one of the children should start probating his estate, so that any debts can be paid, and any remaining property distributed.