Do assets automatically go to spouse?
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Do assets automatically go to spouse?
Spouses will now automatically inherit the estate of their partners who die without leaving a will, after the NSW Parliament passed new legislation. State Attorney-General John Hatzistergos says that previously the estate would have been shared between the spouse and the children when someone died intestate.
What happens to a house if the wife’s name is not on the deed and the husband dies?
This means that if your partner dies the property will automatically pass to you. You can then make a will which leaves the home to his or her children when you die. Your name can be added to the certificate of title to the property as a tenant in common.
Can I leave my stepchildren nothing?
Unless you’ve adopted them, your step-children have no legal right to an inheritance from you—even if you die without a will. So if you don’t want to leave anything to your step-children, you don’t have to do anything.
How are IRAS split in a divorce?
The correct way to divide IRA funds in compliance with a divorce decree is to do a trustee-to-trustee transfer (a direct transfer) of the IRA funds, moving them directly from one spouse’s IRA to the other spouse’s account. If done correctly, the IRA will be split and there will be no tax liability for either spouse.
