If there are two children of the marriage and I have a child who inherits my Husband's estate?
Full Question:
My husband and had been married and residing in Aspen, Colorado. We had two children in our marriage. I have a son from an earlier marriage. My husband passed away and did not leave behind a will. How will his property pass on to us surviving members in the family?
12/16/2016 |
Category: Wills and Es... ยป Intestacy |
State: Colorado |
#28232
Answer:
“The various possible circumstances describing the decedent, his or her surviving spouse, and their surviving descendants, if any, are set forth in this section to be utilized in determining the intestate share of the decedent's surviving spouse. If more than one circumstance is applicable, the circumstance that produces the largest share for the surviving spouse shall be applied. The intestate share of a decedent's surviving spouse is:
(1) The entire intestate estate if:
(a) No descendant or parent of the decedent survives the decedent; or
(b) All of the decedent's surviving descendants are also descendants of the surviving spouse and there is no other descendant of the surviving spouse who survives the decedent;
(2) The first three hundred thousand dollars, plus three-fourths of any balance of the intestate estate, if no descendant of the decedent survives the decedent, but a parent of the decedent survives the decedent;
(3) The first two hundred twenty-five thousand dollars, plus one-half of any balance of the intestate estate, if all of the decedent's surviving descendants are also descendants of the surviving spouse and the surviving spouse has one or more surviving descendants who are not descendants of the decedent;
(4) The first one hundred fifty thousand dollars, plus one-half of any balance of the intestate estate, if one or more of the decedent's surviving descendants are not descendants of the surviving spouse.
(5) (Deleted by amendment, L. 2009, (HB 09-1287), ch. 310, p. 1671, § 3, effective July 1, 2010.)
(6) The dollar amounts stated in this section shall be increased or decreased based on the cost of living adjustment as calculated and specified in section 15-10-112.”
The surviving spouse in the case at hand has a child from a prior marriage. Therefore, the provision in subsection 3 shall be applicable. Per the above-quoted section, the property would be divided in the following manner:
1. 1. the surviving spouse will inherit the first $225,000 of the probate estate plus one-half (1/2) of the balance
2. the child from the marriage with decedent will inherit the remainder of the estate.