DYING WITHOUT A WILL
(In Massachusetts)
The Massachusetts Legislature, in its wisdom, has made provisions for those dying without a Will. For some, the results may be desirable, for many, they can border on disaster:
1. A surviving spouse gets one-half of the estate, the children share the remaining half. The children, with an interest in the family home, could inhibit its sale or even force its sale.
2. A surviving spouse might be obliged to report annually to the Probate Court on the use of the estate for the children's benefit (if any child is under the age of 18).
3. Each child, upon reaching age 18, will have the full right to his or her share of the estate.
4. If the surviving spouse remarries, the second spouse will get certain rights in the estate assets.
5. If the surviving spouse predeceases his or her second spouse, estate assets that went to the survivor could go to the second spouse's family.
6. The court will choose a guardian if the surviving spouse dies before all children are age 18.
7. Estate taxes may be significantly greater.
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